Shares of Credit Acceptance Corp. (NASDAQ:CACC) have earned an average recommendation of “Sell” from the nine brokerages that are currently covering the company. Six investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $170.43.
A number of research analysts recently issued reports on CACC shares. Zacks Investment Research upgraded shares of Credit Acceptance Corp. from a “hold” rating to a “buy” rating and set a $216.00 target price on the stock in a research note on Thursday, July 14th. Janney Montgomery Scott reiterated a “hold” rating on shares of Credit Acceptance Corp. in a research note on Thursday, September 22nd. Compass Point raised their target price on shares of Credit Acceptance Corp. from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, August 1st. Finally, Credit Suisse Group AG lowered shares of Credit Acceptance Corp. from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $200.00 to $185.00 in a research note on Wednesday, July 27th.
Credit Acceptance Corp. (NASDAQ:CACC) traded down 0.51% on Thursday, reaching $191.68. 49,963 shares of the company’s stock traded hands. The firm’s 50-day moving average is $197.84 and its 200 day moving average is $189.11. Credit Acceptance Corp. has a 52-week low of $159.43 and a 52-week high of $258.58. The stock has a market capitalization of $3.91 billion, a PE ratio of 12.67 and a beta of 0.62.
Credit Acceptance Corp. (NASDAQ:CACC) last posted its earnings results on Friday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.86 by $0.52. Credit Acceptance Corp. had a net margin of 35.03% and a return on equity of 33.91%. The business had revenue of $238.50 million for the quarter, compared to analyst estimates of $232.40 million. During the same period last year, the business posted $3.60 EPS. Credit Acceptance Corp.’s revenue was up 17.4% compared to the same quarter last year. Analysts forecast that Credit Acceptance Corp. will post $16.02 EPS for the current year.
In other news, major shareholder Jill Foss Watson sold 43,196 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $202.97, for a total transaction of $8,767,492.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 25.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC increased its position in Credit Acceptance Corp. by 46.2% in the first quarter. Aperio Group LLC now owns 2,308 shares of the company’s stock worth $419,000 after buying an additional 729 shares during the last quarter. Teachers Advisors Inc. increased its position in Credit Acceptance Corp. by 30.9% in the first quarter. Teachers Advisors Inc. now owns 12,270 shares of the company’s stock worth $2,228,000 after buying an additional 2,898 shares during the last quarter. BlackRock Inc. increased its position in Credit Acceptance Corp. by 310.5% in the first quarter. BlackRock Inc. now owns 1,014 shares of the company’s stock worth $184,000 after buying an additional 767 shares during the last quarter. BlackRock Group LTD increased its position in Credit Acceptance Corp. by 22.5% in the first quarter. BlackRock Group LTD now owns 4,640 shares of the company’s stock worth $841,000 after buying an additional 851 shares during the last quarter. Finally, BlackRock Japan Co. Ltd increased its position in Credit Acceptance Corp. by 1.7% in the first quarter. BlackRock Japan Co. Ltd now owns 12,031 shares of the company’s stock worth $2,184,000 after buying an additional 204 shares during the last quarter. 47.43% of the stock is owned by institutional investors.
About Credit Acceptance Corp.
Credit Acceptance Corporation (Credit Acceptance) is a provider of financing programs to automobile dealers that enable them to sell vehicles to consumers. The Company’s financing programs are offered through a nationwide network of automobile dealers; from repeat and referral sales generated by customers, and from sales to customers responding to advertisements for it products.
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