Credit Acceptance: Back At Expensive Levels While Facing The Same Concerns [Seeking Alpha]
Credit Acceptance Corporation (CACC)
Last credit acceptance corporation earnings: 1/30 04:02 pm
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US:NASDAQ Investor Relations:
ir.creditacceptance.com/investor-relations
Company Research
Source: Seeking Alpha
Higher costs of funding and default rates are severely impacting earnings, and a pending lawsuit adds to the uncertainties. A careful probability-weighted scenario model suggests a valuation re-rate to $465 per share. Since our last article covering Credit Acceptance Corporation ( NASDAQ: CACC ) in July 2023, the stock initially moved down to $400 per share from $550 at publication. The market seemed to realize how much results would deteriorate caused by a mix of factors, from higher interest rates to increased credit risk. However, the stock is today back at the same expensive level of $550, while not much has changed and earnings are continuing to deteriorate. We have a new target of around $465 per share, which implies a downside potential of 15%. Same story, higher valuation The bottom line is very simple: the company will continue to face significant headwinds caused by higher costs of funding and default rates, which eventually limit its securitization capacity. The pr
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CACC
News
- Credit Acceptance Announces Timing of First Quarter 2024 Earnings Release and WebcastGlobeNewswire
- Credit Acceptance Celebrates 10th Year on Fortune's 100 Best Companies to Work For® List [Yahoo! Finance]Yahoo! Finance
- Credit Acceptance Celebrates 10th Year on Fortune's 100 Best Companies to Work For® ListGlobeNewswire
- Credit Acceptance Announces Completion of $500.0 Million Asset-Backed Financing [Yahoo! Finance]Yahoo! Finance
- Credit Acceptance Announces Completion of $500.0 Million Asset-Backed FinancingGlobeNewswire
CACC
Earnings
- 1/31/24 - Beat
CACC
Sec Filings
- 4/25/24 - Form ARS
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form DEF
- CACC's page on the SEC website