Several other analysts have also weighed in on the company. Stephens lifted their price objective on Credit Acceptance from $381.00 to $495.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Zacks Investment Research downgraded Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. BTIG Research restated a “sell” rating and set a $340.00 target price on shares of Credit Acceptance in a research report on Wednesday, July 31st. BMO Capital Markets raised their target price on Credit Acceptance to $484.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Finally, Credit Suisse Group set a $380.00 target price on Credit Acceptance and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $441.00.
Shares of NASDAQ:CACC opened at $466.61 on Wednesday. Credit Acceptance has a 1-year low of $356.12 and a 1-year high of $509.99. The firm has a market capitalization of $8.66 billion, a PE ratio of 16.44, a PEG ratio of 1.33 and a beta of 0.74. The business’s 50 day moving average is $477.42 and its 200-day moving average is $466.19. 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 (NASDAQ:CACC) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $8.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.52 by $0.08. Credit Acceptance had a return on equity of 30.02% and a net margin of 45.15%. The company had revenue of $370.60 million for the quarter, compared to analyst estimates of $363.38 million. During the same quarter last year, the firm earned $6.95 EPS. Credit Acceptance’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, sell-side analysts predict that Credit Acceptance will post 34.67 EPS for the current year.
Several institutional investors have recently bought and sold shares of CACC. Private Advisors LLC raised its position in Credit Acceptance by 7.6% in the 1st quarter. Private Advisors LLC now owns 2,405 shares of the credit services provider’s stock valued at $1,087,000 after purchasing an additional 170 shares during the last quarter. Meeder Asset Management Inc. raised its position in Credit Acceptance by 128.9% in the 1st quarter. Meeder Asset Management Inc. now owns 483 shares of the credit services provider’s stock valued at $219,000 after purchasing an additional 272 shares during the last quarter. JLB & Associates Inc. raised its position in Credit Acceptance by 45.8% in the 2nd quarter. JLB & Associates Inc. now owns 6,987 shares of the credit services provider’s stock valued at $3,380,000 after purchasing an additional 2,196 shares during the last quarter. Hanseatic Management Services Inc. raised its position in Credit Acceptance by 3.8% in the 1st quarter. Hanseatic Management Services Inc. now owns 2,054 shares of the credit services provider’s stock valued at $928,000 after purchasing an additional 76 shares during the last quarter. Finally, Hanson & Doremus Investment Management bought a new position in Credit Acceptance in the 2nd quarter valued at $26,000. Institutional investors and hedge funds own 61.63% of the company’s stock.
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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