According to Zacks, “Credit Acceptance Corporation is a specialized financial services company which provides funding, receivables management, collection, sales training and related services to automobile dealers. “
A number of other research analysts have also weighed in on CACC. Compass Point lowered Credit Acceptance Corp. from a neutral rating to a sell rating and set a $170.00 target price on the stock. in a report on Tuesday, September 6th. Janney Montgomery Scott restated a hold rating on shares of Credit Acceptance Corp. in a report on Thursday, September 22nd. Finally, Credit Suisse Group AG lowered Credit Acceptance Corp. from a neutral rating to an underperform rating and dropped their target price for the company from $200.00 to $185.00 in a report on Wednesday, July 27th. Six investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has a consensus rating of Sell and a consensus target price of $179.15.
Credit Acceptance Corp. (NASDAQ:CACC) opened at 192.66 on Monday. Credit Acceptance Corp. has a one year low of $159.43 and a one year high of $258.58. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 12.74 and a beta of 0.62. The firm has a 50-day moving average price of $197.84 and a 200-day moving average price of $189.11.
Credit Acceptance Corp. (NASDAQ:CACC) last announced its quarterly earnings data on Friday, July 29th. The company reported $4.38 EPS for the quarter, beating the Zacks’ consensus estimate of $3.86 by $0.52. Credit Acceptance Corp. had a return on equity of 33.91% and a net margin of 35.03%. The firm earned $238.50 million during the quarter, compared to analysts’ expectations of $232.40 million. During the same quarter last year, the firm posted $3.60 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts expect that Credit Acceptance Corp. will post $16.02 EPS for the current year.
In related news, major shareholder Jill Foss Watson sold 43,196 shares of Credit Acceptance Corp. stock in a transaction on Monday, August 15th. The stock was sold at an average price of $202.97, for a total transaction of $8,767,492.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 25.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its stake in shares of Credit Acceptance Corp. by 18.3% in the third quarter. BNP Paribas Arbitrage SA now owns 1,227 shares of the company’s stock valued at $247,000 after buying an additional 190 shares during the last quarter. Lebenthal Holdings LLC raised 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 during the last quarter. Schwab Charles Investment Management Inc. raised 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 during the last quarter. Amalgamated Bank purchased a new stake in shares of Credit Acceptance Corp. during the second quarter valued at about $264,000. Finally, Legal & General Group Plc raised 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 during the last quarter. Hedge funds and other 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.