Credit Acceptance Corporation (NASDAQ: CACC) has recently received a number of price target changes and ratings updates:

  • 8/3/2017 – Credit Acceptance Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $310.00 price target on the stock. According to Zacks, “Credit Acceptance Corporation is a specialized financial services company which provides funding, receivables management, collection, sales training and related services to automobile dealers. “
  • 8/1/2017 – Credit Acceptance Corporation had its “underperform” rating reaffirmed by analysts at Credit Suisse Group. They now have a $200.00 price target on the stock, up previously from $190.00.
  • 8/1/2017 – Credit Acceptance Corporation had its “underperform” rating reaffirmed by analysts at JMP Securities. They now have a $195.00 price target on the stock, up previously from $180.00.
  • 8/1/2017 – Credit Acceptance Corporation had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $240.00 price target on the stock, up previously from $215.00.
  • 8/1/2017 – Credit Acceptance Corporation was upgraded by analysts at Raymond James Financial, Inc. from an “underperform” rating to a “market perform” rating.
  • 8/1/2017 – Credit Acceptance Corporation had its price target raised by analysts at BMO Capital Markets from $226.00 to $238.00. They now have a “market perform” rating on the stock.
  • 7/14/2017 – Credit Acceptance Corporation had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $215.00 price target on the stock.
  • 7/12/2017 – Credit Acceptance Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/6/2017 – Credit Acceptance Corporation was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/4/2017 – Credit Acceptance Corporation was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Credit Acceptance Corporation is a specialized financial services company which provides funding, receivables management, collection, sales training and related services to automobile dealers. “
  • 6/23/2017 – Credit Acceptance Corporation was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.

Shares of Credit Acceptance Corporation (CACC) opened at 275.90 on Tuesday. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 15.08 and a beta of 0.51. The company’s 50-day moving average is $248.00 and its 200 day moving average is $216.06. Credit Acceptance Corporation has a 1-year low of $160.63 and a 1-year high of $279.00.

Credit Acceptance Corporation (NASDAQ:CACC) last issued its quarterly earnings data on Monday, July 31st. The credit services provider reported $5.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.89 by $0.33. The firm had revenue of $253.20 million during the quarter, compared to analysts’ expectations of $268.18 million. Credit Acceptance Corporation had a net margin of 35.13% and a return on equity of 32.24%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.38 earnings per share. On average, analysts expect that Credit Acceptance Corporation will post $19.90 EPS for the current fiscal year.

In related news, major shareholder Jill Foss Watson sold 47,303 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $270.75, for a total transaction of $12,807,287.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kenneth Booth sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $273.01, for a total transaction of $546,020.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 453,286 shares of company stock valued at $106,340,178. Corporate insiders own 5.80% of the company’s stock.

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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