Shares of Credit Acceptance Corp. (NASDAQ:CACC) have received an average rating of “Hold” from the nine analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $359.75.
A number of research firms have recently weighed in on CACC. Credit Suisse Group reiterated a “sell” rating and set a $390.00 price target on shares of Credit Acceptance in a report on Sunday, February 2nd. BidaskClub upgraded Credit Acceptance from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. BMO Capital Markets decreased their price objective on Credit Acceptance from $448.00 to $419.00 and set a “market perform” rating for the company in a research note on Friday, March 13th. ValuEngine upgraded Credit Acceptance from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Stephens upgraded Credit Acceptance from an “underweight” rating to an “equal weight” rating in a research note on Friday, January 3rd.
In other Credit Acceptance news, major shareholder Donald A. Foss sold 200 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $432.74, for a total transaction of $86,548.00. Following the sale, the insider now directly owns 1,997,115 shares in the company, valued at $864,231,545.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Prescott General Partners Llc sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $441.62, for a total value of $4,416,200.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 4,250 shares of company stock worth $1,357,003 and have sold 196,552 shares worth $85,726,446. 5.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC acquired a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $38,000. NumerixS Investment Technologies Inc bought a new position in Credit Acceptance during the fourth quarter valued at about $88,000. Nachman Norwood & Parrott Inc bought a new position in Credit Acceptance during the fourth quarter valued at about $232,000. First Republic Investment Management Inc. bought a new position in Credit Acceptance during the fourth quarter valued at about $258,000. Finally, Marble Harbor Investment Counsel LLC bought a new position in Credit Acceptance during the fourth quarter valued at about $265,000. 63.24% of the stock is owned by institutional investors.
Shares of CACC stock traded up $21.08 on Thursday, reaching $301.79. The company’s stock had a trading volume of 356,942 shares, compared to its average volume of 311,201. The company has a current ratio of 35.47, a quick ratio of 35.47 and a debt-to-equity ratio of 1.93. The stock’s fifty day simple moving average is $393.67 and its 200-day simple moving average is $433.44. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 1.11 and a beta of 0.71. Credit Acceptance has a 1 year low of $199.00 and a 1 year high of $509.99.
Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Thursday, January 30th. The credit services provider reported $9.22 EPS for the quarter, beating the Zacks’ consensus estimate of $8.85 by $0.37. The firm had revenue of $385.90 million for the quarter, compared to analyst estimates of $385.34 million. Credit Acceptance had a return on equity of 29.25% and a net margin of 44.06%. Credit Acceptance’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.85 earnings per share. Equities research analysts forecast that Credit Acceptance will post 21.39 earnings per share for the current year.
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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