Credit Acceptance (NASDAQ:CACC) Given a $257.00 Price Target by Stephens Analysts

Credit Acceptance (NASDAQ:CACC) received a $257.00 price objective from investment analysts at Stephens in a research note issued to investors on Wednesday, January 3rd. The firm currently has a “sell” rating on the credit services provider’s stock. Stephens’ price target points to a potential downside of 24.30% from the stock’s current price.

Several other analysts also recently weighed in on CACC. BMO Capital Markets reissued a “hold” rating and issued a $238.00 target price on shares of Credit Acceptance in a report on Friday, October 6th. Bank of America boosted their target price on Credit Acceptance from $195.00 to $230.00 and gave the company an “underperform” rating in a report on Tuesday, October 31st. Jefferies Group reissued a “hold” rating and issued a $260.00 target price (up from $240.00) on shares of Credit Acceptance in a report on Tuesday, October 10th. BidaskClub raised Credit Acceptance from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 12th. Finally, Credit Suisse Group upped their price objective on Credit Acceptance from $200.00 to $225.00 and gave the company an “underperform” rating in a research note on Tuesday, October 31st. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $255.50.

Shares of Credit Acceptance (CACC) traded up $6.89 during midday trading on Wednesday, hitting $339.50. The stock had a trading volume of 122,700 shares, compared to its average volume of 230,470. Credit Acceptance has a twelve month low of $182.50 and a twelve month high of $340.00. The company has a debt-to-equity ratio of 2.12, a current ratio of 17.63 and a quick ratio of 17.63. The firm has a market capitalization of $6,560.00, a PE ratio of 17.60, a PEG ratio of 1.30 and a beta of 0.54.

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

In related news, major shareholder Jill Foss Watson sold 30,038 shares of the company’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 value of $9,937,471.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 114,925 shares of company stock worth $37,901,719. Insiders own 5.80% of the company’s stock.

A number of large investors have recently made changes to their positions in CACC. Russell Investments Group Ltd. grew its holdings in Credit Acceptance by 99.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,458 shares of the credit services provider’s stock valued at $375,000 after buying an additional 726 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Credit Acceptance by 7.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 67,285 shares of the credit services provider’s stock valued at $17,302,000 after buying an additional 4,935 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in Credit Acceptance by 33.5% during the 2nd quarter. State of Wisconsin Investment Board now owns 2,233 shares of the credit services provider’s stock valued at $574,000 after buying an additional 560 shares during the last quarter. SG Americas Securities LLC grew its holdings in Credit Acceptance by 102.8% during the 2nd quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock valued at $159,000 after buying an additional 22,463 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Credit Acceptance by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,213 shares of the credit services provider’s stock worth $12,655,000 after purchasing an additional 5,569 shares during the period. Hedge funds and other institutional investors own 70.69% of the company’s stock.

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About Credit Acceptance

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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