Credit Acceptance Corporation (NASDAQ:CACC) has been assigned a consensus rating of “Hold” from the eleven research firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $219.75.
Several equities analysts recently commented on the stock. Bank of America Corporation upped their price target on shares of Credit Acceptance Corporation from $195.00 to $230.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 31st. Credit Suisse Group upped their price target on shares of Credit Acceptance Corporation from $200.00 to $225.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 31st. BMO Capital Markets reaffirmed a “market perform” rating and set a $252.00 price target (up previously from $238.00) on shares of Credit Acceptance Corporation in a research report on Tuesday, October 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $260.00 price target (up previously from $240.00) on shares of Credit Acceptance Corporation in a research report on Tuesday, October 10th. Finally, Zacks Investment Research lowered shares of Credit Acceptance Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in Credit Acceptance Corporation by 9.4% during the third quarter. Bank of New York Mellon Corp now owns 53,826 shares of the credit services provider’s stock worth $15,081,000 after buying an additional 4,613 shares during the period. Prudential Financial Inc. grew its stake in Credit Acceptance Corporation by 386.9% during the third quarter. Prudential Financial Inc. now owns 10,823 shares of the credit services provider’s stock worth $3,033,000 after buying an additional 8,600 shares during the period. Chicago Equity Partners LLC purchased a new stake in Credit Acceptance Corporation during the third quarter worth approximately $2,260,000. First Capital Advisors Group LLC. purchased a new stake in Credit Acceptance Corporation during the third quarter worth approximately $233,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Credit Acceptance Corporation by 91.3% in the third quarter. Victory Capital Management Inc. now owns 49,333 shares of the credit services provider’s stock valued at $13,822,000 after purchasing an additional 23,539 shares during the period. Institutional investors own 72.99% of the company’s stock.
Shares of Credit Acceptance Corporation (NASDAQ CACC) traded up $3.94 during trading on Thursday, reaching $284.73. The company had a trading volume of 184,785 shares, compared to its average volume of 235,749. Credit Acceptance Corporation has a one year low of $163.17 and a one year high of $299.92. The company has a current ratio of 17.63, a quick ratio of 17.63 and a debt-to-equity ratio of 2.12. The company has a market cap of $5,422.11, a PE ratio of 13.96, a P/E/G ratio of 1.15 and a beta of 0.51.
Credit Acceptance Corporation (NASDAQ:CACC) last issued its quarterly earnings results on Monday, October 30th. The credit services provider reported $5.43 EPS for the quarter, topping the consensus estimate of $5.15 by $0.28. Credit Acceptance Corporation had a net margin of 35.29% and a return on equity of 32.08%. The firm had revenue of $283.90 million during the quarter, compared to analyst estimates of $281.03 million. During the same quarter in the prior year, the business posted $4.53 earnings per share. Credit Acceptance Corporation’s revenue for the quarter was up 15.1% compared to the same quarter last year. equities research analysts anticipate that Credit Acceptance Corporation will post 20.84 EPS for the current fiscal year.
Credit Acceptance Corporation Company Profile
Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.
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