Credit Acceptance Corp. (NASDAQ:CACC) Receives Consensus Recommendation of “Hold” from Analysts

Credit Acceptance Corp. (NASDAQ:CACC) has been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $410.50.

A number of brokerages have issued reports on CACC. BMO Capital Markets lowered their price target on Credit Acceptance to $472.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 5th. ValuEngine upgraded Credit Acceptance from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Credit Suisse Group increased their price target on Credit Acceptance from $380.00 to $390.00 and gave the stock an “underperform” rating in a research report on Thursday, November 14th. Stephens upgraded Credit Acceptance from an “underweight” rating to an “equal weight” rating in a research report on Friday, January 3rd. Finally, BidaskClub upgraded Credit Acceptance from a “strong sell” rating to a “sell” rating in a research report on Wednesday.

In other news, insider Charles A. Pearce sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $442.43, for a total value of $442,430.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Prescott General Partners Llc sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $450.07, for a total value of $6,751,050.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,437 shares of company stock worth $37,522,119. Company insiders own 5.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantum Capital Management LLC NJ lifted its position in Credit Acceptance by 0.8% during the second quarter. Quantum Capital Management LLC NJ now owns 8,521 shares of the credit services provider’s stock worth $4,123,000 after buying an additional 65 shares in the last quarter. Usca Ria LLC purchased a new position in Credit Acceptance during the third quarter worth approximately $30,000. Voya Investment Management LLC lifted its position in Credit Acceptance by 2.9% during the third quarter. Voya Investment Management LLC now owns 2,857 shares of the credit services provider’s stock worth $1,318,000 after buying an additional 80 shares in the last quarter. Coastal Investment Advisors Inc. lifted its position in Credit Acceptance by 13.5% during the third quarter. Coastal Investment Advisors Inc. now owns 781 shares of the credit services provider’s stock worth $360,000 after buying an additional 93 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Credit Acceptance by 11.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,479 shares of the credit services provider’s stock worth $682,000 after buying an additional 156 shares in the last quarter. Institutional investors and hedge funds own 59.63% of the company’s stock.

CACC stock traded up $2.91 during mid-day trading on Friday, reaching $450.78. 86,122 shares of the company’s stock were exchanged, compared to its average volume of 121,550. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.91 and a beta of 0.67. The stock’s 50 day moving average is $438.76 and its 200 day moving average is $455.26. The company has a debt-to-equity ratio of 1.75, a current ratio of 29.49 and a quick ratio of 29.49. Credit Acceptance has a 12-month low of $385.36 and a 12-month high of $509.99.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Friday, November 1st. The credit services provider reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.86 by $0.03. The company had revenue of $378.70 million for the quarter, compared to the consensus estimate of $380.69 million. Credit Acceptance had a return on equity of 29.54% and a net margin of 44.69%. Credit Acceptance’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.56 earnings per share. On average, research analysts forecast that Credit Acceptance will post 34.69 earnings per share for the current fiscal year.

About Credit Acceptance

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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