Credit Acceptance Corp. (NASDAQ:CACC) has been given an average rating of “Hold” by the nine research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $427.80.
Several research firms have commented on CACC. BMO Capital Markets upped their price target on shares of Credit Acceptance to $484.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. ValuEngine lowered Credit Acceptance from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Credit Suisse Group set a $380.00 price objective on Credit Acceptance and gave the company an “underperform” rating in a report on Wednesday, July 31st. BidaskClub downgraded Credit Acceptance from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Finally, BTIG Research reaffirmed a “sell” rating and set a $340.00 target price on shares of Credit Acceptance in a report on Wednesday, July 31st.
A number of hedge funds have recently added to or reduced their stakes in the stock. Rational Advisors LLC purchased a new position in Credit Acceptance in the second quarter valued at $1,022,000. Private Advisors LLC raised its position in shares of Credit Acceptance by 7.6% in the first quarter. Private Advisors LLC now owns 2,405 shares of the credit services provider’s stock worth $1,087,000 after acquiring an additional 170 shares during the period. Pearl River Capital LLC purchased a new stake in shares of Credit Acceptance during the 2nd quarter worth about $42,000. JLB & Associates Inc. boosted its stake in shares of Credit Acceptance by 45.8% during the 2nd quarter. JLB & Associates Inc. now owns 6,987 shares of the credit services provider’s stock worth $3,380,000 after acquiring an additional 2,196 shares in the last quarter. Finally, Hanseatic Management Services Inc. boosted its stake in shares of Credit Acceptance by 3.8% during the 1st quarter. Hanseatic Management Services Inc. now owns 2,054 shares of the credit services provider’s stock worth $928,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.
Shares of CACC stock traded up $1.49 during trading hours on Friday, hitting $464.90. The company’s stock had a trading volume of 779 shares, compared to its average volume of 76,741. The company has a 50 day moving average of $464.27 and a 200 day moving average of $468.02. The stock has a market cap of $8.71 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.34 and a beta of 0.75. The company has a current ratio of 28.16, a quick ratio of 28.16 and a debt-to-equity ratio of 1.89. Credit Acceptance has a 12-month low of $356.12 and a 12-month high of $509.99.
Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $8.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.52 by $0.08. The firm had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $363.38 million. Credit Acceptance had a net margin of 45.15% and a return on equity of 30.02%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the company posted $6.95 earnings per share. As a group, analysts anticipate that Credit Acceptance will post 34.67 earnings per share for the current fiscal year.
About Credit Acceptance
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.
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