Several other brokerages have also commented on CACC. Stephens set a $257.00 price target on shares of Credit Acceptance and gave the stock a sell rating in a report on Wednesday, January 3rd. ValuEngine raised shares of Credit Acceptance from a buy rating to a strong-buy rating in a report on Thursday, March 1st. Zacks Investment Research lowered shares of Credit Acceptance from a strong-buy rating to a hold rating in a report on Tuesday, March 13th. BidaskClub raised shares of Credit Acceptance from a buy rating to a strong-buy rating in a report on Tuesday, December 12th. Finally, Oppenheimer upped their target price on shares of Credit Acceptance from $355.00 to $387.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $280.78.
CACC opened at $320.72 on Tuesday. The company has a quick ratio of 24.00, a current ratio of 24.00 and a debt-to-equity ratio of 1.99. Credit Acceptance has a 1 year low of $190.09 and a 1 year high of $377.82. The firm has a market capitalization of $6,220.35, a P/E ratio of 15.73, a PEG ratio of 0.69 and a beta of 0.53.
Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Tuesday, January 30th. The credit services provider reported $5.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.53 by ($0.37). The firm had revenue of $287.30 million during the quarter, compared to analyst estimates of $287.37 million. Credit Acceptance had a net margin of 42.36% and a return on equity of 30.18%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.79 earnings per share. equities research analysts forecast that Credit Acceptance will post 26.15 earnings per share for the current fiscal year.
In other news, insider John S. Soave sold 2,500 shares of the stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $337.01, for a total transaction of $842,525.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kenneth Booth sold 2,000 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $334.50, for a total transaction of $669,000.00. The disclosure for this sale can be found here. Insiders sold 5,500 shares of company stock worth $1,831,385 in the last ninety days. 5.80% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC acquired a new stake in Credit Acceptance in the third quarter valued at approximately $2,072,000. State of Alaska Department of Revenue acquired a new stake in Credit Acceptance in the fourth quarter valued at approximately $323,000. Teacher Retirement System of Texas acquired a new stake in Credit Acceptance in the fourth quarter valued at approximately $750,000. Schroder Investment Management Group raised its holdings in Credit Acceptance by 5,483.8% in the fourth quarter. Schroder Investment Management Group now owns 206,600 shares of the credit services provider’s stock valued at $66,831,000 after acquiring an additional 202,900 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Credit Acceptance by 12.9% in the fourth quarter. California Public Employees Retirement System now owns 17,113 shares of the credit services provider’s stock valued at $5,536,000 after acquiring an additional 1,961 shares in the last quarter. 70.35% of the stock is currently owned by institutional investors and hedge funds.
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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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