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Credit Acceptance Corporation CACC is a credit service company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CACC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Credit Acceptance could be a solid choice for investors.
Current Quarter Estimates for CACC
In the past 60 days, two estimates have gone higher for Credit Acceptance while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $10.11 a share 60 days ago, to $11.76 today, a move of 16.3%.
Current Year Estimates for CACC
Meanwhile, Credit Acceptance’s current year figures are also looking quite promising, with three estimates moving higher in the past two months, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $39.40 per share 60 days ago to $49.03 per share today, an increase of 24.4%.
Credit Acceptance Corporation Price and Consensus
Credit Acceptance Corporation price-consensus-chart | Credit Acceptance Corporation Quote
The stock has also started to move higher lately, adding 7.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Credit Acceptance Corporation (CACC) : Free Stock Analysis Report
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