Credit Acceptance Corp. (CACC) Given Average Recommendation of “Hold” by Brokerages

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.

Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

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