Other equities analysts have also issued research reports about the stock. Compass Point lowered shares of Credit Acceptance Corp. from a neutral rating to a sell rating and set a $170.00 target price on the stock. in a research report on Tuesday, September 6th. Zacks Investment Research raised shares of Credit Acceptance Corp. from a hold rating to a strong-buy rating and set a $226.00 target price on the stock in a research report on Wednesday, August 3rd. Finally, Credit Suisse Group AG lowered shares of Credit Acceptance Corp. from a neutral rating to an underperform rating and dropped their target price for the stock from $200.00 to $185.00 in a research report on Wednesday, July 27th. Six equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company’s stock. Credit Acceptance Corp. presently has an average rating of Hold and a consensus price target of $179.15.
Shares of Credit Acceptance Corp. (NASDAQ:CACC) opened at 198.02 on Thursday. Credit Acceptance Corp. has a 12 month low of $159.43 and a 12 month high of $258.58. The company has a market capitalization of $4.04 billion, a P/E ratio of 13.09 and a beta of 0.67. The company has a 50-day moving average of $199.35 and a 200 day moving average of $188.99.
Credit Acceptance Corp. (NASDAQ:CACC) last issued its quarterly earnings data on Friday, July 29th. The company reported $4.38 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 earned $238.50 million during the quarter, compared to analysts’ expectations of $232.40 million. During the same period in the previous year, the company earned $3.60 earnings per share. Credit Acceptance Corp.’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts forecast that Credit Acceptance Corp. will post $16.02 EPS for the current year.
In other Credit Acceptance Corp. news, major shareholder Jill Foss Watson sold 43,196 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $202.97, for a total value of $8,767,492.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 25.20% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. Lebenthal Holdings LLC increased its stake in shares of Credit Acceptance Corp. by 1.4% in the second quarter. Lebenthal Holdings LLC now owns 7,770 shares of the company’s stock valued at $1,438,000 after buying an additional 111 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Credit Acceptance Corp. by 6.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 39,018 shares of the company’s stock valued at $7,222,000 after buying an additional 2,302 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Credit Acceptance Corp. during the second quarter valued at approximately $264,000. Legal & General Group Plc increased its stake in shares of Credit Acceptance Corp. by 4.1% in the second quarter. Legal & General Group Plc now owns 717 shares of the company’s stock valued at $133,000 after buying an additional 28 shares in the last quarter. Finally, Makaira Partners LLC purchased a new stake in shares of Credit Acceptance Corp. during the second quarter valued at approximately $37,941,000. Institutional investors own 47.43% of the company’s stock.
Credit Acceptance Corp. Company Profile
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.
Receive News & Ratings for Credit Acceptance Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance Corp. and related companies with MarketBeat.com's FREE daily email newsletter.