Credit Acceptance (NASDAQ:CACC) has been assigned a $365.00 price objective by investment analysts at Oppenheimer in a note issued to investors on Thursday. The firm presently has a “buy” rating on the credit services provider’s stock. Oppenheimer’s price target would suggest a potential upside of 16.13% from the company’s previous close.
A number of other research firms have also commented on CACC. Stephens set a $257.00 price target on shares of Credit Acceptance and gave the company a “sell” rating in a report on Wednesday, January 3rd. Credit Suisse Group reiterated an “underperform” rating on shares of Credit Acceptance in a report on Tuesday. ValuEngine upgraded shares of Credit Acceptance from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Zacks Investment Research lowered shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 13th. Finally, BMO Capital Markets lowered their price target on shares of Credit Acceptance from $312.00 to $295.00 and set a “market perform” rating for the company in a report on Thursday, February 1st. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $280.78.
Shares of Credit Acceptance stock opened at $314.30 on Thursday. Credit Acceptance has a 52-week low of $190.09 and a 52-week high of $377.82. The company has a debt-to-equity ratio of 1.99, a current ratio of 24.00 and a quick ratio of 24.00. The firm has a market capitalization of $6,121.67, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.68 and a beta of 0.53.
Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Tuesday, January 30th. The credit services provider reported $5.16 EPS for the quarter, missing the Zacks’ consensus estimate of $5.53 by ($0.37). Credit Acceptance had a net margin of 42.36% and a return on equity of 30.18%. The firm had revenue of $287.30 million for the quarter, compared to the consensus estimate of $287.37 million. During the same quarter in the prior year, the company earned $4.79 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. equities research analysts forecast that Credit Acceptance will post 26.15 EPS for the current year.
In other Credit Acceptance news, insider Douglas W. Busk sold 1,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $319.86, for a total value of $319,860.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Booth sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $334.50, for a total transaction of $669,000.00. The disclosure for this sale can be found here. Insiders sold a total of 5,500 shares of company stock valued at $1,831,385 over the last 90 days. Company insiders own 5.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Credit Acceptance by 1.3% in the 4th quarter. BlackRock Inc. now owns 484,188 shares of the credit services provider’s stock worth $156,624,000 after purchasing an additional 6,036 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in Credit Acceptance by 4.1% in the 4th quarter. Wasatch Advisors Inc. now owns 238,183 shares of the credit services provider’s stock worth $77,047,000 after purchasing an additional 9,330 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Credit Acceptance by 9.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 213,735 shares of the credit services provider’s stock worth $69,139,000 after purchasing an additional 17,698 shares in the last quarter. Schroder Investment Management Group raised its holdings in Credit Acceptance by 5,483.8% in the 4th quarter. Schroder Investment Management Group now owns 206,600 shares of the credit services provider’s stock worth $66,831,000 after purchasing an additional 202,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Credit Acceptance by 6.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 191,207 shares of the credit services provider’s stock worth $53,570,000 after purchasing an additional 11,956 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.
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Credit Acceptance Company Profile
Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.
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