Auto Loan Demand Aids Credit Acceptance (CACC) Amid Cost Woes

Credit Acceptance Corporation (CACC) is well-poised for top-line growth, supported by decent demand for auto loans, along with increases in dealer enrollments and active dealers. The company's share buyback policy also seems impressive. However, elevated expenses will likely hurt the company's profitability to some extent. Weak credit quality and high debt levels are other concerns. The Zacks Consensus Estimate for CACC's 2024 earnings has been unchanged over the past 30 days. Hence, the company currently c ...