BidaskClub upgraded shares of Credit Acceptance (NASDAQ:CACC) from a sell rating to a hold rating in a research note published on Thursday morning, BidAskClub reports.
Other equities research analysts also recently issued reports about the company. BMO Capital Markets upped their price objective on Credit Acceptance to $484.00 and gave the company a market perform rating in a research report on Thursday, August 1st. Credit Suisse Group set a $380.00 price objective on Credit Acceptance and gave the company an underperform rating in a research report on Wednesday, July 31st. BTIG Research restated a sell rating and set a $340.00 price objective on shares of Credit Acceptance in a research report on Wednesday, July 31st. Finally, ValuEngine downgraded Credit Acceptance from a hold rating to a sell rating in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has an average rating of Hold and an average target price of $441.00.
Shares of CACC stock opened at $481.05 on Thursday. Credit Acceptance has a 1 year low of $356.12 and a 1 year high of $509.99. The company has a debt-to-equity ratio of 1.89, a current ratio of 28.16 and a quick ratio of 28.16. The stock’s 50 day simple moving average is $463.84 and its two-hundred day simple moving average is $468.36. The company has a market cap of $8.93 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.37 and a beta of 0.75.
Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $8.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.52 by $0.08. Credit Acceptance had a return on equity of 30.02% and a net margin of 45.15%. The business had revenue of $370.60 million for the quarter, compared to the consensus estimate of $363.38 million. During the same period in the prior year, the business posted $6.95 earnings per share. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities research analysts expect that Credit Acceptance will post 34.67 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Hawaii raised its holdings in shares of 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 buying an additional 35 shares during the period. Campbell & CO Investment Adviser LLC raised its holdings in shares of 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 buying an additional 44 shares during the period. AGF Investments LLC raised its holdings in shares of 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 buying an additional 45 shares during the period. Hanson & Doremus Investment Management purchased a new stake in shares of Credit Acceptance in the second quarter worth approximately $26,000. Finally, Eqis Capital Management Inc. raised its holdings in shares of Credit Acceptance by 2.3% in 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 period. Hedge funds and other institutional investors own 66.05% of the company’s stock.
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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