Credit Acceptance (CACC) Surges 7.0%: Is This an Indication of Further Gains?

Company Overview - Credit Acceptance (CACC) shares increased by 7% to $501.25 in the last trading session, with a higher-than-average trading volume, contrasting with a 0.7% loss over the past four weeks [1] - The company is expected to report quarterly earnings of$ 10.31 per share, reflecting a year-over-year increase of 103%, and revenues are projected to be $568.15 million, up 11.8% from the previous year [2] Earnings and Estimates - The consensus EPS estimate for Credit Acceptance has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] - The stock currently holds a Zacks Rank of 2 (Buy), suggesting positive sentiment among analysts [4] Industry Context - Credit Acceptance is part of the Zacks Financial - Consumer Loans industry, which includes other companies like Ally Financial (ALLY) [4] - Ally Financial's consensus EPS estimate has decreased by 2.2% over the past month to$ 0.46, representing a year-over-year change of +2.2%, and it currently holds a Zacks Rank of 3 (Hold) [5]