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.
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.
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