BTIG Research reiterated their sell rating on shares of Credit Acceptance (NASDAQ:CACC) in a research report released on Wednesday, AnalystRatings.com reports. The brokerage currently has a $340.00 price objective on the credit services provider’s stock.
A number of other research analysts have also commented on the stock. Stephens upped their price objective on shares of Credit Acceptance from $381.00 to $495.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Credit Suisse Group set a $380.00 price objective on shares of Credit Acceptance and gave the company an underperform rating in a research report on Wednesday. Zacks Investment Research lowered shares of Credit Acceptance from a buy rating to a hold rating in a research report on Thursday, May 2nd. Finally, BidaskClub lowered shares of Credit Acceptance from a buy rating to a hold rating in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Credit Acceptance presently has a consensus rating of Hold and an average price target of $441.00.
Shares of CACC traded down $13.97 during trading hours on Wednesday, reaching $466.17. 133,935 shares of the company traded hands, compared to its average volume of 84,582. The firm has a fifty day moving average of $484.53. The firm has a market cap of $9.03 billion, a PE ratio of 16.42, a P/E/G ratio of 1.40 and a beta of 0.74. The company has a current ratio of 28.16, a quick ratio of 31.27 and a debt-to-equity ratio of 1.89. Credit Acceptance has a 1-year low of $356.12 and a 1-year high of $509.99.
Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $8.60 EPS for the quarter, beating the Zacks’ consensus estimate of $8.52 by $0.08. The business had revenue of $370.60 million during the quarter, compared to analyst estimates of $363.38 million. Credit Acceptance had a net margin of 45.15% and a return on equity of 30.02%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.95 earnings per share. Sell-side analysts predict that Credit Acceptance will post 34.59 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Bank of Hawaii raised its position in Credit Acceptance by 4.5% in the first quarter. Bank of Hawaii now owns 810 shares of the credit services provider’s stock worth $366,000 after purchasing an additional 35 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its position in Credit Acceptance by 7.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 624 shares of the credit services provider’s stock worth $302,000 after purchasing an additional 44 shares in the last quarter. AGF Investments LLC raised its position in Credit Acceptance by 1.1% in the second quarter. AGF Investments LLC now owns 4,122 shares of the credit services provider’s stock worth $1,994,000 after purchasing an additional 45 shares in the last quarter. Hanson & Doremus Investment Management bought a new stake in Credit Acceptance during the second quarter worth about $26,000. Finally, Eqis Capital Management Inc. grew its stake in Credit Acceptance by 2.3% during the second quarter. Eqis Capital Management Inc. now owns 2,844 shares of the credit services provider’s stock worth $1,376,000 after buying an additional 63 shares during the last quarter. 61.70% of the stock is owned by hedge funds and other institutional investors.
About Credit Acceptance
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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