Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers. It is also involved in the business of reinsuring coverage under vehicle service contracts sold to consumers by dealers on vehicles financed by the company. Credit Acceptance Corporation was founded in 1972 and is headquartered in Southfield, Michigan.
IPO Year: 1992
Exchange: NASDAQ
Website: creditacceptance.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/13/2024 | $452.00 | Equal-Weight | Stephens |
| 11/1/2023 | $360.00 | Underperform | TD Cowen |
| 2/1/2022 | $411.00 → $428.00 | Market Perform | BMO Capital |
| 11/2/2021 | $380.00 → $420.00 | Underperform | Credit Suisse |
| 11/2/2021 | $295.00 → $355.00 | Market Underperform | JMP Securities |
| 11/2/2021 | $470.00 → $519.00 | Equal-Weight | Stephens & Co. |
| 7/30/2021 | $330.00 → $360.00 | Underperform | Credit Suisse |
| 7/6/2021 | $310.00 → $330.00 | Underperform | Credit Suisse |
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4 - CREDIT ACCEPTANCE CORP (0000885550) (Issuer)
Southfield, Michigan, April 29, 2021 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") today announced that Brett A. Roberts, the Company's Chief Executive Officer and President and a member of the Company's Board of Directors, will retire at the close of business on May 3, 2021. The Board of Directors has unanimously elected and appointed the Company's Chief Financial Officer, Kenneth S. Booth, as the Company's new Chief Executive Officer and President and as a director, effective May 3, 2021. Tom Tryforos, the Company's Lead Director, said "I think I speak for all at Credit Acceptance in saying that
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8-K - CREDIT ACCEPTANCE CORP (0000885550) (Filer)
Southfield, Michigan, April 23, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our first quarter 2025 earnings on Wednesday, April 30, 2025, after the market closes. A webcast is scheduled for Wednesday, April 30, 2025, at 5:00 p.m. Eastern Time to discuss first quarter 2025 earnings. Conference Call and Webcast Information:Date: Wednesday, April 30, 2025Time: 5:00 p.m. Eastern TimeTelephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participate by tel
Southfield, Michigan, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our fourth quarter 2024 earnings on Thursday, January 30, 2025, after the market closes. A webcast is scheduled for Thursday, January 30, 2025, at 5:00 p.m. Eastern Time to discuss fourth quarter 2024 earnings. Conference Call and Webcast Information:Date: Thursday, January 30, 2025Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To particip
Southfield, Michigan, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our third quarter 2024 earnings on Wednesday, October 30, 2024, after the market closes. A webcast is scheduled for Thursday, October 31, 2024, at 8:30 a.m. Eastern Time to discuss third quarter 2024 earnings. Conference Call and Webcast Information:Date: Thursday, October 31, 2024Time: 8:30 a.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To par
Southfield, Michigan , July 26, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our second quarter 2024 results on Wednesday, July 31, 2024, after the market closes. A webcast is scheduled for Wednesday, July 31, 2024, at 5:00 p.m. Eastern Time to discuss second quarter 2024 results. Conference Call and Webcast Information:Date: Wednesday, July 31, 2024Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participa
Southfield, Michigan, April 23, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our first quarter 2024 earnings on Tuesday, April 30, 2024, after the market closes. A webcast is scheduled for Tuesday, April 30, 2024, at 5:00 p.m. Eastern Time to discuss first quarter 2024 earnings. Conference Call and Webcast Information:Date: Tuesday, April 30, 2024Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participate by tel
Southfield, Michigan, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our fourth quarter 2023 earnings on Wednesday, January 31, 2024, after the market closes. A webcast is scheduled for Wednesday, January 31, 2024, at 5:00 p.m. Eastern Time to discuss fourth quarter 2023 earnings. Conference Call and Webcast Information:Date: Wednesday, January 31, 2024Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To parti
Southfield, Michigan, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our third quarter 2023 earnings on Monday, October 30, 2023, after the market closes. A webcast is scheduled for Monday, October 30, 2023, at 5:00 p.m. Eastern Time to discuss third quarter 2023 earnings. Conference Call and Webcast Information:Date: Monday, October 30, 2023Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participate by t
Southfield, Michigan, July 25, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our second quarter 2023 earnings on Tuesday, August 1, 2023, after the market closes. A webcast is scheduled for Tuesday, August 1, 2023, at 5:00 p.m. Eastern Time to discuss second quarter 2023 earnings. Conference Call and Webcast Information:Date: Tuesday, August 1, 2023Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participat
Southfield, Michigan, April 24, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our first quarter 2023 earnings on Monday, May 1, 2023, after the market closes. A webcast is scheduled for Monday, May 1, 2023, at 5:00 p.m. Eastern Time to discuss first quarter 2023 earnings. Conference Call and Webcast Information: Date: Monday, May 1, 2023 Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participate by telephone, yo
Southfield, Michigan , Jan. 24, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our fourth quarter and full year 2022 earnings on Tuesday, January 31, 2023, after the market closes. A webcast is scheduled for Tuesday, January 31, 2023, at 5:00 p.m. Eastern Time to discuss fourth quarter and full year 2022 earnings. Conference Call and Webcast Information: Date: Tuesday, January 31, 2023 Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presente
Stephens initiated coverage of Credit Acceptance Corp. with a rating of Equal-Weight and set a new price target of $452.00
TD Cowen initiated coverage of Credit Acceptance Corp. with a rating of Underperform and set a new price target of $360.00
BMO Capital reiterated coverage of Credit Acceptance with a rating of Market Perform and set a new price target of $428.00 from $411.00 previously
Credit Suisse reiterated coverage of Credit Acceptance with a rating of Underperform and set a new price target of $420.00 from $380.00 previously
JMP Securities reiterated coverage of Credit Acceptance with a rating of Market Underperform and set a new price target of $355.00 from $295.00 previously
Stephens & Co. reiterated coverage of Credit Acceptance with a rating of Equal-Weight and set a new price target of $519.00 from $470.00 previously
Credit Suisse reiterated coverage of Credit Acceptance with a rating of Underperform and set a new price target of $360.00 from $330.00 previously
Credit Suisse reiterated coverage of Credit Acceptance with a rating of Underperform and set a new price target of $330.00 from $310.00 previously
BMO Capital reiterated coverage of Credit Acceptance with a rating of Market Perform and set a new price target of $399.00 from $377.00 previously
Southfield, Michigan, April 24, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that on April 24, 2025, the Consumer Financial Protection Bureau ("CFPB") filed an unopposed motion to withdraw from the lawsuit that it initiated jointly on January 4, 2023, with the Office of the New York State Attorney General (NYAG) against Credit Acceptance in the United States District Court for the Southern District of New York. As of the filing of the CFPB's motion, Credit Acceptance's motion to dismiss the case in its entirety remains fully briefed and pending before the Court. Credit Acceptan
Southfield, Michigan, April 23, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") is proud to announce our recognition as a 2025 Spring Culture Excellence Top Workplaces award winner in the following five categories: Work-Life Flexibility, Leadership, Innovation, Purpose & Values, and Compensation & Benefits. "These awards are a reflection of what makes our culture special," said Wendy Rummler, Chief People Officer of Credit Acceptance. "Our team members thrive when they find purpose in their work—and our mission of Changing Lives empowers them to make a real impact. These awards highlight our ong
Southfield, Michigan, April 23, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our first quarter 2025 earnings on Wednesday, April 30, 2025, after the market closes. A webcast is scheduled for Wednesday, April 30, 2025, at 5:00 p.m. Eastern Time to discuss first quarter 2025 earnings. Conference Call and Webcast Information:Date: Wednesday, April 30, 2025Time: 5:00 p.m. Eastern TimeTelephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participate by tel
Southfield, Michigan, March 27, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $400.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately $500.2 million to a wholly owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: Note Class Amount Average Life Price Interest Rate A $223,080,000 2.48 years 99.99519% 5.02% B $65,780,000 3.14 years 99.97454% 5.30% C $111,140,000 3.52 years 99.98897% 5.71% The Financin
Southfield, Michigan, March 20, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") has been named a 2025 Top Workplaces USA award winner for the fifth consecutive year. We made it into the Top 10 again this year, with a #2 ranking in the 1,000-2,499-employee size category, up 7 spots from last year. The award is due to the passion and commitment of Credit Acceptance's 2,400+ team members and the culture they foster, which is centered around our core values of PRIDE – Positive, Respectful, Insightful, Direct, and Earnest. "Our team members tell us that the stability of our business is just one of o
Southfield, Michigan, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today the closing of the Company's previously announced offering of $500.0 million aggregate principal amount of its 6.625% senior notes due 2030 (the "notes") at an issue price of 100% of the principal amount of the notes in a private offering exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). The Company also announced today that it completed the previously announced redemption (the "Redemption") of all of its 6.625% senior notes due 2026 (the "2026 notes") in acc
Southfield, Michigan, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that it has delivered a conditional notice of redemption to the trustee for the Company's 6.625% senior notes due 2026 (the "2026 notes"). The notice of redemption calls for the redemption of all of the outstanding $400.0 million aggregate principal amount of 2026 notes (the "redemption") on February 28, 2025, in accordance with the terms of the indenture governing the 2026 notes. The redemption is conditioned upon the Company's receipt, prior to the redemption date (or on the redemption date at or prio
Southfield, Michigan , Feb. 13, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that it priced $500.0 million aggregate principal amount of its 6.625% senior notes due 2030 (the "notes") in its previously announced offering at an issue price of 100% of the principal amount of the notes. The $500.0 million aggregate principal amount of the notes represents an increase in the offering size from the previously announced $400.0 million. The closing of the sale of the notes is expected to occur on or about February 28, 2025, subject to customary closing conditions. We intend to use the
Southfield, Michigan, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that it plans to offer $400.0 million aggregate principal amount of senior notes due 2030 (the "notes"). We intend to use the net proceeds from the offering of the notes, together with cash on hand, to fund the redemption of all of our $400.0 million outstanding 6.625% senior notes due 2026 (the "2026 notes"), in accordance with the terms of the indenture governing the 2026 notes, and the payment of fees and expenses in connection therewith. Pending this application of the net proceeds from the offering
Southfield, Michigan, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") today announced consolidated net income of $151.9 million, or $12.26 per diluted share, for the three months ended December 31, 2024 compared to consolidated net income of $93.6 million, or $7.29 per diluted share, for the same period in 2023. Adjusted net income, a non-GAAP financial measure, for the three months ended December 31, 2024 was $126.0 million, or $10.17 per diluted share, compared to $129.1 million, or $10.06 per diluted share, for the same period in 2023. The following table summarizes our financial resu
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