Credit Acceptance (CACC) Rating Increased to Strong-Buy at BidaskClub

Credit Acceptance (NASDAQ:CACC) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Other research analysts have also issued reports about the company. Jefferies Group reaffirmed a “hold” rating and issued a $260.00 target price (up from $240.00) on shares of Credit Acceptance in a research report on Tuesday, October 10th. BMO Capital Markets reiterated a “hold” rating and issued a $238.00 price target on shares of Credit Acceptance in a report on Friday, October 6th. Zacks Investment Research downgraded Credit Acceptance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Bank of America increased their price target on Credit Acceptance from $195.00 to $230.00 and gave the company an “underperform” rating in a report on Tuesday, October 31st. Finally, Credit Suisse Group increased their price target on Credit Acceptance from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 31st. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $229.78.

Shares of Credit Acceptance (NASDAQ CACC) traded up $3.97 on Tuesday, hitting $326.25. The company had a trading volume of 204,825 shares, compared to its average volume of 214,854. The company has a quick ratio of 17.63, a current ratio of 17.63 and a debt-to-equity ratio of 2.12. The stock has a market cap of $6,220.00, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.30 and a beta of 0.53. Credit Acceptance has a twelve month low of $182.50 and a twelve month high of $327.48.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Monday, October 30th. The credit services provider reported $5.43 earnings per share for the quarter, topping the consensus estimate of $5.15 by $0.28. The business had revenue of $283.90 million for the quarter, compared to analyst estimates of $281.03 million. Credit Acceptance had a return on equity of 32.08% and a net margin of 35.29%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the company posted $4.53 EPS. equities research analysts forecast that Credit Acceptance will post 20.84 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Abrams Bison Investments LLC grew its stake in shares of Credit Acceptance by 0.9% during the second quarter. Abrams Bison Investments LLC now owns 1,169,556 shares of the credit services provider’s stock valued at $300,740,000 after acquiring an additional 10,157 shares in the last quarter. BlackRock Inc. grew its stake in shares of Credit Acceptance by 11.4% during the second quarter. BlackRock Inc. now owns 446,139 shares of the credit services provider’s stock valued at $114,720,000 after acquiring an additional 45,768 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Credit Acceptance during the second quarter valued at about $240,000. Dimensional Fund Advisors LP grew its stake in shares of Credit Acceptance by 6.7% during the third quarter. Dimensional Fund Advisors LP now owns 191,207 shares of the credit services provider’s stock valued at $53,570,000 after acquiring an additional 11,956 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Credit Acceptance by 479.4% during the second quarter. Goldman Sachs Group Inc. now owns 138,545 shares of the credit services provider’s stock valued at $35,626,000 after acquiring an additional 114,632 shares in the last quarter. Hedge funds and other institutional investors own 70.72% of the company’s stock.

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Credit Acceptance Company Profile

Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.

Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

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