Stephens Analysts Give Credit Acceptance (CACC) a $257.00 Price Target

Credit Acceptance (NASDAQ:CACC) has been given a $257.00 price target by equities researchers at Stephens in a note issued to investors on Wednesday. The firm presently has a “sell” rating on the credit services provider’s stock. Stephens’ target price would suggest a potential downside of 21.18% from the company’s previous close.

A number of other equities analysts also recently weighed in on CACC. Zacks Investment Research downgraded shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $238.00 target price on shares of Credit Acceptance in a research note on Friday, October 6th. Jefferies Group reaffirmed a “hold” rating and issued a $260.00 target price (up from $240.00) on shares of Credit Acceptance in a research note on Tuesday, October 10th. Credit Suisse Group boosted their target price on shares of Credit Acceptance from $200.00 to $225.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 31st. Finally, Bank of America boosted their target price on shares of Credit Acceptance from $195.00 to $230.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $239.44.

Shares of Credit Acceptance (NASDAQ:CACC) traded down $2.56 during midday trading on Wednesday, hitting $326.07. 104,703 shares of the company’s stock were exchanged, compared to its average volume of 128,250. Credit Acceptance has a one year low of $182.50 and a one year high of $338.12. The company has a market capitalization of $6,300.00, a P/E ratio of 16.90, a PEG ratio of 1.28 and a beta of 0.54. The company has a debt-to-equity ratio of 2.12, a quick ratio of 17.63 and a current ratio of 17.63.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Monday, October 30th. The credit services provider reported $5.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.15 by $0.28. Credit Acceptance had a net margin of 35.29% and a return on equity of 32.08%. The company had revenue of $283.90 million during the quarter, compared to the consensus estimate of $281.03 million. During the same period in the previous year, the firm posted $4.53 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. research analysts expect that Credit Acceptance will post 20.74 earnings per share for the current year.

In other news, major shareholder Jill Foss Watson sold 30,038 shares of Credit Acceptance stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $330.83, for a total transaction of $9,937,471.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 114,925 shares of company stock valued at $37,901,719. 5.80% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of CACC. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Credit Acceptance by 437.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 537 shares of the credit services provider’s stock worth $150,000 after buying an additional 437 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Credit Acceptance by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock worth $159,000 after buying an additional 40 shares during the period. SG Americas Securities LLC grew its position in shares of Credit Acceptance by 102.8% during the 2nd quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock worth $159,000 after buying an additional 22,463 shares during the period. Rathbone Brothers plc acquired a new stake in shares of Credit Acceptance during the 3rd quarter worth approximately $210,000. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Credit Acceptance during the 3rd quarter worth approximately $233,000. Institutional investors own 70.69% of the company’s stock.

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Credit Acceptance 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 (NASDAQ:CACC)

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