Credit Acceptance (NASDAQ:CACC) had its price objective lowered by research analysts at Stephens from $495.00 to $290.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the credit services provider’s stock. Stephens’ target price indicates a potential downside of 31.54% from the company’s current price.
Several other brokerages also recently weighed in on CACC. BidaskClub downgraded Credit Acceptance from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 30th. BMO Capital Markets dropped their target price on Credit Acceptance to $472.00 and set an “in-line” rating on the stock in a research note on Tuesday. BTIG Research restated a “sell” rating and set a $340.00 target price on shares of Credit Acceptance in a research note on Wednesday, July 31st. ValuEngine upgraded Credit Acceptance from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Credit Suisse Group set a $380.00 target price on Credit Acceptance and gave the stock an “underperform” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $408.33.
Shares of CACC stock opened at $423.62 on Tuesday. Credit Acceptance has a 1-year low of $356.12 and a 1-year high of $509.99. The stock’s fifty day moving average price is $454.59 and its 200 day moving average price is $470.73. The company has a debt-to-equity ratio of 1.75, a current ratio of 29.49 and a quick ratio of 28.16. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.19 and a beta of 0.70.
Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Friday, November 1st. The credit services provider reported $8.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.86 by $0.03. Credit Acceptance had a return on equity of 29.54% and a net margin of 44.69%. The firm had revenue of $378.70 million for the quarter, compared to the consensus estimate of $380.69 million. During the same period in the previous year, the business earned $7.56 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities research analysts anticipate that Credit Acceptance will post 34.67 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC grew its stake in Credit Acceptance by 7.6% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 624 shares of the credit services provider’s stock valued at $302,000 after purchasing an additional 44 shares during the last quarter. AGF Investments LLC lifted its holdings in shares of Credit Acceptance by 1.1% in the 2nd quarter. AGF Investments LLC now owns 4,122 shares of the credit services provider’s stock valued at $1,994,000 after buying an additional 45 shares during the period. Hanson & Doremus Investment Management acquired a new position in shares of Credit Acceptance in the 2nd quarter valued at about $26,000. Eqis Capital Management Inc. lifted its holdings in shares of Credit Acceptance by 2.3% in the 2nd quarter. Eqis Capital Management Inc. now owns 2,844 shares of the credit services provider’s stock valued at $1,376,000 after buying an additional 63 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Credit Acceptance by 13.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 547 shares of the credit services provider’s stock valued at $266,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 60.21% of the company’s stock.
Credit Acceptance Company Profile
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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