Several other research analysts also recently issued reports on CACC. Zacks Investment Research downgraded shares of Credit Acceptance from a buy rating to a hold rating in a research report on Thursday, May 2nd. BTIG Research reaffirmed a sell rating and issued a $340.00 price objective on shares of Credit Acceptance in a research note on Wednesday, July 31st. BMO Capital Markets lifted their price objective on Credit Acceptance to $484.00 and gave the stock a market perform rating in a research note on Thursday, August 1st. Stephens lifted their price objective on Credit Acceptance from $381.00 to $495.00 and gave the stock an equal weight rating in a research note on Tuesday, April 30th. Finally, Credit Suisse Group set a $380.00 price objective on Credit Acceptance and gave the stock an underperform rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $441.00.
Shares of CACC stock opened at $452.98 on Wednesday. The firm has a market cap of $8.72 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.34 and a beta of 0.74. The company has a debt-to-equity ratio of 1.89, a current ratio of 28.16 and a quick ratio of 28.16. Credit Acceptance has a 1-year low of $356.12 and a 1-year high of $509.99. The firm has a fifty day moving average of $476.80 and a two-hundred day moving average of $466.38.
Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $8.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.52 by $0.08. Credit Acceptance had a net margin of 45.15% and a return on equity of 30.02%. The business had revenue of $370.60 million for the quarter, compared to analyst estimates of $363.38 million. During the same quarter in the prior year, the firm earned $6.95 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, sell-side analysts expect that Credit Acceptance will post 34.67 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Hanson & Doremus Investment Management bought a new position in Credit Acceptance during the second quarter worth $26,000. Pearl River Capital LLC bought a new position in shares of Credit Acceptance during the 2nd quarter valued at about $42,000. Blue Sky Asset Management LLC bought a new position in shares of Credit Acceptance during the 1st quarter valued at about $84,000. NumerixS Investment Technologies Inc bought a new position in shares of Credit Acceptance during the 2nd quarter valued at about $97,000. Finally, Point72 Hong Kong Ltd increased its position in shares of Credit Acceptance by 187.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 244 shares of the credit services provider’s stock valued at $118,000 after purchasing an additional 159 shares during the last quarter. 61.63% of the stock is owned by institutional investors.
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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