Credit Suisse Group Trims Credit Acceptance (NASDAQ:CACC) Target Price to $440.00

Credit Acceptance (NASDAQ:CACCGet Rating) had its price objective lowered by Credit Suisse Group from $460.00 to $440.00 in a report released on Tuesday morning, The Fly reports. The brokerage currently has an underperform rating on the credit services provider’s stock.

Separately, StockNews.com downgraded Credit Acceptance from a buy rating to a hold rating in a report on Thursday, May 12th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $435.50.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $544.08 on Tuesday. The business has a 50 day simple moving average of $525.95 and a 200-day simple moving average of $539.61. The stock has a market capitalization of $7.03 billion, a PE ratio of 10.21 and a beta of 1.34. The company has a debt-to-equity ratio of 3.01, a current ratio of 15.39 and a quick ratio of 21.07. Credit Acceptance has a 12 month low of $452.48 and a 12 month high of $703.27.

Credit Acceptance (NASDAQ:CACCGet Rating) last posted its earnings results on Monday, August 1st. The credit services provider reported $7.94 earnings per share for the quarter, missing the consensus estimate of $12.14 by ($4.20). Credit Acceptance had a net margin of 42.75% and a return on equity of 47.19%. The firm had revenue of $457.40 million during the quarter, compared to analyst estimates of $454.77 million. During the same period last year, the company posted $13.71 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts predict that Credit Acceptance will post 54.38 earnings per share for the current year.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, insider Prescott General Partners Llc sold 14,648 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $587.29, for a total value of $8,602,623.92. Following the completion of the transaction, the insider now owns 43,831 shares of the company’s stock, valued at approximately $25,741,507.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CACC. Hanseatic Management Services Inc. acquired a new stake in Credit Acceptance during the 4th quarter worth $27,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Credit Acceptance by 920.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 51 shares of the credit services provider’s stock worth $28,000 after acquiring an additional 46 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of Credit Acceptance by 195.0% during the first quarter. Harbor Investment Advisory LLC now owns 59 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 39 shares during the period. Elmwood Wealth Management Inc. acquired a new stake in shares of Credit Acceptance in the fourth quarter valued at approximately $53,000. Finally, Knuff & Co LLC acquired a new position in Credit Acceptance during the first quarter valued at approximately $54,000. 65.05% of the stock is currently owned by institutional investors.

Credit Acceptance Company Profile

(Get Rating)

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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