Credit Acceptance Corporation (NASDAQ:CACC) has been given an average recommendation of “Hold” by the eleven ratings firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $219.75.

A number of research firms have recently commented on CACC. BMO Capital Markets reiterated a “market perform” rating and set a $252.00 target price (up from $238.00) on shares of Credit Acceptance Corporation in a research note on Tuesday. Bank of America Corporation lifted their target price on Credit Acceptance Corporation from $195.00 to $230.00 and gave the stock an “underperform” rating in a research note on Tuesday. JMP Securities reiterated an “underperform” rating and set a $195.00 target price (up from $180.00) on shares of Credit Acceptance Corporation in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “hold” rating and set a $240.00 target price (up from $215.00) on shares of Credit Acceptance Corporation in a research note on Tuesday, August 1st. Finally, Credit Suisse Group lifted their target price on Credit Acceptance Corporation from $200.00 to $225.00 and gave the stock an “underperform” rating in a research note on Tuesday.

Credit Acceptance Corporation (NASDAQ:CACC) last released its earnings results on Monday, October 30th. The credit services provider reported $5.43 EPS for the quarter, topping the Zacks’ consensus estimate of $5.15 by $0.28. The company had revenue of $283.90 million for the quarter, compared to analysts’ expectations of $281.03 million. Credit Acceptance Corporation had a return on equity of 32.08% and a net margin of 35.29%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.53 EPS.

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In related news, major shareholder Jill Foss Watson sold 29,956 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $270.81, for a total value of $8,112,384.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. raised its stake in Credit Acceptance Corporation by 386.9% in the 3rd quarter. Prudential Financial Inc. now owns 10,823 shares of the credit services provider’s stock valued at $3,033,000 after acquiring an additional 8,600 shares during the period. Chicago Equity Partners LLC bought a new stake in Credit Acceptance Corporation in the 3rd quarter valued at about $2,260,000. First Capital Advisors Group LLC. bought a new stake in Credit Acceptance Corporation in the 3rd quarter valued at about $233,000. Victory Capital Management Inc. raised its stake in Credit Acceptance Corporation by 91.3% in the 3rd quarter. Victory Capital Management Inc. now owns 49,333 shares of the credit services provider’s stock valued at $13,822,000 after acquiring an additional 23,539 shares during the period. Finally, Rathbone Brothers plc bought a new stake in Credit Acceptance Corporation in the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

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.

Analyst Recommendations for Credit Acceptance Corporation (NASDAQ:CACC)

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