Credit Acceptance (CACC) Price Target Increased to $335.00 by Analysts at Credit Suisse Group

Credit Acceptance (NASDAQ:CACC) had its price target lifted by Credit Suisse Group from $310.00 to $335.00 in a research note published on Tuesday, The Fly reports. The brokerage currently has an underperform rating on the credit services provider’s stock.

Several other research firms have also recently issued reports on CACC. BidaskClub upgraded shares of Credit Acceptance from a buy rating to a strong-buy rating in a research note on Thursday, August 23rd. Zacks Investment Research upgraded shares of Credit Acceptance from a hold rating to a buy rating and set a $500.00 target price on the stock in a research note on Friday, August 3rd. JMP Securities upped their target price on shares of Credit Acceptance from $260.00 to $350.00 and gave the company a market underperform rating in a research note on Thursday, August 2nd. BMO Capital Markets upped their target price on shares of Credit Acceptance from $305.00 to $312.00 and gave the company a market perform rating in a research note on Thursday, August 2nd. Finally, Susquehanna Bancshares upped their target price on shares of Credit Acceptance from $350.00 to $371.00 and gave the company a hold rating in a research note on Wednesday, August 1st. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Credit Acceptance presently has an average rating of Hold and an average price target of $346.88.

Shares of CACC stock opened at $436.48 on Tuesday. Credit Acceptance has a one year low of $277.20 and a one year high of $467.26. The stock has a market cap of $7.66 billion, a P/E ratio of 21.35, a PEG ratio of 0.72 and a beta of 0.55. The company has a current ratio of 33.69, a quick ratio of 33.69 and a debt-to-equity ratio of 2.03.



Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Monday, October 29th. The credit services provider reported $7.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.90 by $0.85. The business had revenue of $332.00 million for the quarter, compared to analysts’ expectations of $327.45 million. Credit Acceptance had a net margin of 48.70% and a return on equity of 30.11%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.43 EPS. On average, analysts forecast that Credit Acceptance will post 27.36 EPS for the current year.

In other news, insider Charles A. Pearce sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $426.93, for a total value of $426,930.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 33,300 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $438.14, for a total transaction of $14,590,062.00. The disclosure for this sale can be found here. Insiders sold a total of 74,500 shares of company stock worth $33,250,502 in the last quarter. Company insiders own 5.40% of the company’s stock.

Large investors have recently modified their holdings of the company. First Hawaiian Bank bought a new position in shares of Credit Acceptance in the 3rd quarter worth approximately $178,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Credit Acceptance by 57.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 616 shares of the credit services provider’s stock worth $218,000 after purchasing an additional 226 shares during the period. Financial Architects Inc bought a new position in shares of Credit Acceptance in the 2nd quarter worth approximately $254,000. Strs Ohio bought a new position in shares of Credit Acceptance in the 2nd quarter worth approximately $277,000. Finally, Xact Kapitalforvaltning AB lifted its stake in shares of Credit Acceptance by 29.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 886 shares of the credit services provider’s stock worth $293,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 67.59% of the company’s stock.

Credit Acceptance Company Profile

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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