Credit Acceptance Corp. (NASDAQ:CACC) has earned a consensus rating of “Hold” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $219.75.
A number of research firms recently issued reports on CACC. BidaskClub raised Credit Acceptance from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 12th. 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. Credit Suisse Group boosted their target price on Credit Acceptance from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 31st. BMO Capital Markets reissued a “market perform” rating and issued a $252.00 target price (up from $238.00) on shares of Credit Acceptance in a report on Tuesday, October 31st. Finally, Jefferies Group restated a “hold” rating and issued a $260.00 price target (up previously from $240.00) on shares of Credit Acceptance in a research report on Tuesday, October 10th.
In other news, major shareholder Jill Foss Watson sold 31,463 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $335.06, for a total transaction of $10,541,992.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.80% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. 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. SG Americas Securities LLC raised its holdings in Credit Acceptance by 102.8% in the 2nd quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock worth $159,000 after acquiring an additional 22,463 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Credit Acceptance by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock worth $159,000 after acquiring an additional 40 shares during the period. Rathbone Brothers plc bought a new position in Credit Acceptance in the 3rd quarter worth $210,000. Finally, First Capital Advisors Group LLC. bought a new position in Credit Acceptance in the 3rd quarter worth $233,000. Hedge funds and other institutional investors own 70.69% of the company’s stock.
Credit Acceptance (CACC) traded down $4.74 during trading on Friday, reaching $325.03. The company had a trading volume of 136,539 shares, compared to its average volume of 216,016. The firm has a market capitalization of $6,370.00, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. 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 has a 12-month low of $182.50 and a 12-month high of $338.12.
Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Monday, October 30th. The credit services provider reported $5.43 EPS for the quarter, beating the 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%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.53 earnings per share. sell-side analysts anticipate that Credit Acceptance will post 20.84 earnings per share for the current fiscal year.
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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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