Credit Acceptance Corp. (NASDAQ:CACC) has been given an average rating of “Sell” by the nine research firms that are covering the company. Six research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $170.43.
A number of research firms recently issued reports on CACC. Janney Montgomery Scott upgraded shares of Credit Acceptance Corp. from a “sell” rating to a “neutral” rating and set a $173.00 price objective for the company in a research report on Monday, June 20th. Zacks Investment Research cut shares of Credit Acceptance Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Credit Suisse Group AG cut shares of Credit Acceptance Corp. from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $200.00 to $185.00 in a research report on Wednesday, July 27th. Finally, Compass Point cut shares of Credit Acceptance Corp. from a “neutral” rating to a “sell” rating and set a $170.00 price objective for the company. in a research report on Tuesday, September 6th.
In other news, major shareholder Jill Foss Watson sold 240,000 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $197.50, for a total value of $47,400,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 25.20% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Abrams Bison Investments LLC raised its stake in Credit Acceptance Corp. by 9.8% in the first quarter. Abrams Bison Investments LLC now owns 1,091,474 shares of the company’s stock worth $198,157,000 after buying an additional 97,235 shares in the last quarter. BloombergSen Inc. raised its stake in Credit Acceptance Corp. by 0.9% in the second quarter. BloombergSen Inc. now owns 813,537 shares of the company’s stock worth $150,569,000 after buying an additional 6,998 shares in the last quarter. LMR Partners LLP purchased a new stake in Credit Acceptance Corp. during the second quarter worth approximately $11,714,000. BlackRock Inc. raised its stake in Credit Acceptance Corp. by 310.5% in the first quarter. BlackRock Inc. now owns 1,014 shares of the company’s stock worth $184,000 after buying an additional 767 shares in the last quarter. Finally, Seven Bridges Advisors LLC raised its stake in Credit Acceptance Corp. by 5.4% in the second quarter. Seven Bridges Advisors LLC now owns 15,914 shares of the company’s stock worth $2,945,000 after buying an additional 819 shares in the last quarter. 47.43% of the stock is currently owned by institutional investors.
Credit Acceptance Corp. (NASDAQ:CACC) opened at 190.35 on Thursday. The stock’s 50 day moving average is $197.16 and its 200-day moving average is $189.20. Credit Acceptance Corp. has a 12 month low of $159.43 and a 12 month high of $258.58. The company has a market capitalization of $3.88 billion, a PE ratio of 12.59 and a beta of 0.62.
Credit Acceptance Corp. (NASDAQ:CACC) last issued its earnings results on Friday, July 29th. The company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.86 by $0.52. The company earned $238.50 million during the quarter, compared to analysts’ expectations of $232.40 million. Credit Acceptance Corp. had a net margin of 35.03% and a return on equity of 33.91%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.60 EPS. On average, analysts expect that Credit Acceptance Corp. will post $16.02 EPS for the current year.
About Credit Acceptance Corp.
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.
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.