Credit Acceptance Corp. (CACC) Given Average Rating of “Hold” by Analysts

Shares of Credit Acceptance Corp. (NASDAQ:CACC) have been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $283.22.

Several research firms have issued reports on CACC. BidaskClub lowered shares of Credit Acceptance from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. BMO Capital Markets decreased their price target on shares of Credit Acceptance from $312.00 to $295.00 and set a “market perform” rating on the stock in a research report on Thursday, February 1st. Credit Suisse Group lifted their price target on shares of Credit Acceptance from $200.00 to $225.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 31st. Oppenheimer lifted their price target on shares of Credit Acceptance from $355.00 to $387.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, JMP Securities lifted their price target on shares of Credit Acceptance from $195.00 to $260.00 and gave the stock an “underperform” rating in a research report on Wednesday, January 31st.

Credit Acceptance (NASDAQ:CACC) traded up $7.43 during trading on Friday, reaching $312.81. 303,908 shares of the company’s stock traded hands, compared to its average volume of 225,550. The company has a debt-to-equity ratio of 2.12, a quick ratio of 17.63 and a current ratio of 17.63. The firm has a market capitalization of $5,896.90, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 0.65 and a beta of 0.57. Credit Acceptance has a 12-month low of $182.50 and a 12-month high of $377.82.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Tuesday, January 30th. The credit services provider reported $5.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.53 by ($0.37). The business had revenue of $287.30 million during the quarter, compared to analyst estimates of $287.37 million. Credit Acceptance had a return on equity of 31.87% and a net margin of 42.36%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.79 EPS. analysts predict that Credit Acceptance will post 26.03 EPS for the current fiscal year.

In related news, insider Douglas W. Busk sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $319.86, for a total value of $319,860.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Jill Foss Watson sold 30,038 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $330.83, for a total transaction of $9,937,471.54. The disclosure for this sale can be found here. Insiders sold a total of 115,925 shares of company stock valued at $38,221,579 in the last ninety days. Company insiders own 5.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CACC. Ladenburg Thalmann Financial Services Inc. boosted its stake 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 valued at $150,000 after buying an additional 437 shares during the period. The Manufacturers Life Insurance Company boosted its stake 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 valued at $159,000 after buying an additional 40 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Credit Acceptance during the 4th quarter valued at $198,000. Rathbone Brothers plc acquired a new stake in shares of Credit Acceptance during the 3rd quarter valued at $210,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Credit Acceptance during the 4th quarter valued at $216,000. 70.77% of the stock is owned by hedge funds and other institutional investors.

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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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