Credit Acceptance Corp. (CACC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Credit Acceptance Corp. (NASDAQ:CACC) have been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $372.43.

A number of equities research analysts recently commented on CACC shares. BidaskClub raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Zacks Investment Research raised shares of Credit Acceptance from a “hold” rating to a “buy” rating and set a $468.00 price target on the stock in a report on Monday, February 4th. Stephens raised shares of Credit Acceptance from an “underweight” rating to an “equal” rating and set a $381.00 price target on the stock in a report on Thursday, January 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of Credit Acceptance in a report on Thursday, January 31st. They noted that the move was a valuation call. Finally, BMO Capital Markets boosted their target price on shares of Credit Acceptance to $390.00 and gave the company a “market perform” rating in a report on Monday, February 4th.

Shares of NASDAQ:CACC traded up $9.58 during mid-day trading on Thursday, reaching $466.17. The company had a trading volume of 5,409 shares, compared to its average volume of 80,130. The company has a current ratio of 17.07, a quick ratio of 17.07 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $8.62 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 0.86 and a beta of 0.68. Credit Acceptance has a one year low of $299.00 and a one year high of $467.26.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Wednesday, January 30th. The credit services provider reported $7.85 EPS for the quarter, topping analysts’ consensus estimates of $7.45 by $0.40. The company had revenue of $342.80 million for 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%. Credit Acceptance’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.16 EPS. Research analysts predict that Credit Acceptance will post 33.5 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its stake in shares of Credit Acceptance by 250.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,260 shares of the credit services provider’s stock worth $552,000 after buying an additional 900 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Credit Acceptance by 30.1% during the 3rd quarter. Wells Fargo & Company MN now owns 11,397 shares of the credit services provider’s stock worth $4,992,000 after acquiring an additional 2,636 shares in the last quarter. Alliancebernstein L.P. grew its position in Credit Acceptance by 105.1% during the 3rd quarter. Alliancebernstein L.P. now owns 12,069 shares of the credit services provider’s stock worth $5,287,000 after purchasing an additional 6,185 shares during the last quarter. FMR LLC boosted its holdings in shares of Credit Acceptance by 30.6% in the 3rd quarter. FMR LLC now owns 11,981 shares of the credit services provider’s stock valued at $5,249,000 after acquiring an additional 2,806 shares during the last quarter. Finally, Credit Suisse AG boosted its holdings in shares of Credit Acceptance by 3.1% in the 3rd quarter. Credit Suisse AG now owns 10,774 shares of the credit services provider’s stock valued at $4,719,000 after acquiring an additional 322 shares during the last quarter. Institutional investors own 63.94% of the company’s stock.

Credit Acceptance Company Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

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