Credit Acceptance (CACC) Downgraded by BidaskClub

Credit Acceptance (NASDAQ:CACC) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other brokerages have also commented on CACC. Stephens set a $257.00 price target on Credit Acceptance and gave the stock a “sell” rating in a report on Wednesday, January 3rd. Bank of America upped their price target on Credit Acceptance from $195.00 to $230.00 and gave the stock an “underperform” rating in a report on Tuesday, October 31st. Credit Suisse Group upped their price target on Credit Acceptance from $200.00 to $225.00 and gave the stock an “underperform” rating in a report on Tuesday, October 31st. BMO Capital Markets reiterated a “market perform” rating and set a $252.00 price target (up from $238.00) on shares of Credit Acceptance in a report on Tuesday, October 31st. Finally, Zacks Investment Research lowered Credit Acceptance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $244.44.

Credit Acceptance (NASDAQ:CACC) opened at $329.01 on Friday. Credit Acceptance has a 1-year low of $182.50 and a 1-year high of $338.12. The company has a market capitalization of $6,353.25, a P/E ratio of 17.02, a PEG ratio of 1.30 and a beta of 0.54. The company has a current ratio of 17.63, a quick ratio of 17.63 and a debt-to-equity ratio of 2.12.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Monday, October 30th. The credit services provider reported $5.43 EPS for the quarter, topping analysts’ consensus estimates of $5.15 by $0.28. Credit Acceptance had a return on equity of 32.08% and a net margin of 35.29%. The company had revenue of $283.90 million during the quarter, compared to analyst estimates of $281.03 million. During the same period in the previous year, the company earned $4.53 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. equities research analysts anticipate that Credit Acceptance will post 20.74 EPS for the current year.

In related news, major shareholder Jill Foss Watson sold 18,106 shares of the company’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $326.06, for a total value of $5,903,642.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 114,925 shares of company stock valued at $37,901,719 over the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CACC. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Credit Acceptance by 437.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 537 shares of the credit services provider’s stock valued at $150,000 after purchasing an additional 437 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Credit Acceptance by 102.8% in the second quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock valued at $159,000 after purchasing an additional 22,463 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Credit Acceptance by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock valued at $159,000 after purchasing an additional 40 shares in the last quarter. Rathbone Brothers plc acquired a new position in shares of Credit Acceptance in the third quarter valued at $210,000. Finally, First Capital Advisors Group LLC. acquired a new position in shares of Credit Acceptance in the third quarter valued at $233,000. Institutional investors and hedge funds own 70.69% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Credit Acceptance (CACC) Downgraded by BidaskClub” was published by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.com-unik.info/2018/01/08/credit-acceptance-cacc-downgraded-by-bidaskclub.html.

Credit Acceptance Company Profile

Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.

Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

Receive News & Ratings for Credit Acceptance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit