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.
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.
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