BidaskClub lowered shares of Credit Acceptance (NASDAQ:CACC) from a buy rating to a hold rating in a research note published on Thursday.
CACC has been the subject of a number of other reports. 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. BMO Capital Markets increased their target price on shares of Credit Acceptance to $390.00 and gave the company a market perform rating in a research report on Monday, February 4th. Zacks Investment Research cut shares of Credit Acceptance from a buy rating to a hold rating in a research report on Tuesday, January 15th. BTIG Research assumed coverage on shares of Credit Acceptance in a research report on Wednesday, January 23rd. They issued a sell rating and a $340.00 target price for the company. Finally, Stephens upgraded shares of Credit Acceptance from an underweight rating to an equal rating and set a $381.00 target price for the company in a research report on Thursday, January 3rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $381.88.
NASDAQ:CACC opened at $431.86 on Thursday. The company has a quick ratio of 17.07, a current ratio of 17.07 and a debt-to-equity ratio of 1.83. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 1.02 and a beta of 0.68. Credit Acceptance has a fifty-two week low of $299.00 and a fifty-two week high of $467.26.
Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Wednesday, January 30th. The credit services provider reported $7.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.45 by $0.40. The company had revenue of $342.80 million during the quarter, compared to analysts’ expectations of $338.73 million. Credit Acceptance had a net margin of 44.64% and a return on equity of 29.89%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the business posted $5.16 earnings per share. As a group, equities research analysts predict that Credit Acceptance will post 33.35 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. JLB & Associates Inc. acquired a new stake in shares of Credit Acceptance in the fourth quarter valued at about $1,236,000. RV Capital GmbH acquired a new stake in Credit Acceptance during the fourth quarter worth about $41,994,000. First Hawaiian Bank increased its position in Credit Acceptance by 73.9% during the fourth quarter. First Hawaiian Bank now owns 706 shares of the credit services provider’s stock worth $270,000 after purchasing an additional 300 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Credit Acceptance by 4.3% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 12,281 shares of the credit services provider’s stock worth $4,688,000 after purchasing an additional 508 shares during the last quarter. Finally, Virtu Financial LLC increased its position in Credit Acceptance by 28.8% during the fourth quarter. Virtu Financial LLC now owns 658 shares of the credit services provider’s stock worth $251,000 after purchasing an additional 147 shares during the last quarter. Institutional investors and hedge funds own 63.32% of the company’s stock.
Credit Acceptance Company Profile
Credit Acceptance Corp. engages in the provision of dealer financing programs that enables automobile dealers to sell vehicles to consumers, regardless of its credit history. Its financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers.
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