Credit Acceptance (NASDAQ:CACC) had its target price upped by stock analysts at BMO Capital Markets to $390.00 in a research note issued on Monday, February 4th, The Fly reports. The brokerage currently has a “market perform” rating on the credit services provider’s stock. BMO Capital Markets’ price target would indicate a potential downside of 12.72% from the stock’s previous close.
CACC has been the topic of a number of other reports. BidaskClub cut Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Thursday, November 8th. Oppenheimer restated a “market perform” rating on shares of Credit Acceptance in a research report on Thursday, January 31st. They noted that the move was a valuation call. BTIG Research initiated coverage on Credit Acceptance in a research report on Wednesday, January 23rd. They set a “sell” rating and a $340.00 price objective on the stock. Zacks Investment Research cut Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, Credit Suisse Group boosted their price target on Credit Acceptance from $310.00 to $335.00 and gave the company an “underperform” rating in a research note on Tuesday, October 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $381.88.
Shares of CACC traded up $6.97 on Monday, reaching $446.83. 66,634 shares of the stock traded hands, compared to its average volume of 99,271. The stock has a market cap of $8.39 billion, a PE ratio of 15.74, a P/E/G ratio of 1.07 and a beta of 0.62. The company has a current ratio of 17.07, a quick ratio of 17.07 and a debt-to-equity ratio of 1.83. Credit Acceptance has a 12 month low of $299.00 and a 12 month high of $467.26.
Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Wednesday, January 30th. The credit services provider reported $7.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.45 by $0.40. The business had revenue of $342.80 million for the quarter, compared to analysts’ expectations of $338.73 million. Credit Acceptance had a return on equity of 29.89% and a net margin of 44.64%. Credit Acceptance’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business posted $5.16 earnings per share. Equities analysts forecast that Credit Acceptance will post 33.05 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Ffcm LLC boosted its stake in Credit Acceptance by 1.1% in the 4th quarter. Ffcm LLC now owns 3,223 shares of the credit services provider’s stock valued at $1,230,000 after buying an additional 35 shares in the last quarter. Strs Ohio boosted its stake in Credit Acceptance by 8.5% in the fourth quarter. Strs Ohio now owns 728 shares of the credit services provider’s stock worth $277,000 after purchasing an additional 57 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Credit Acceptance by 9.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 758 shares of the credit services provider’s stock worth $289,000 after purchasing an additional 65 shares in the last quarter. Federated Investors Inc. PA boosted its stake in Credit Acceptance by 355.0% in the third quarter. Federated Investors Inc. PA now owns 91 shares of the credit services provider’s stock worth $40,000 after purchasing an additional 71 shares in the last quarter. Finally, HRT Financial LLC boosted its stake in Credit Acceptance by 9.8% in the fourth quarter. HRT Financial LLC now owns 1,056 shares of the credit services provider’s stock worth $403,000 after purchasing an additional 94 shares in the last quarter. 63.89% of the stock is currently owned by institutional investors and hedge funds.
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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