Credit Acceptance (NASDAQ:CACC) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Credit Acceptance (NASDAQ:CACC) from a strong sell rating to a sell rating in a research report released on Wednesday morning, BidAskClub reports.

Other equities research analysts have also recently issued reports about the company. ValuEngine upgraded Credit Acceptance from a sell rating to a hold rating in a report on Friday, January 3rd. Stephens upgraded Credit Acceptance from an underweight rating to an equal weight rating in a report on Friday, January 3rd. BMO Capital Markets dropped their target price on Credit Acceptance to $472.00 and set an in-line rating for the company in a report on Tuesday, November 5th. Finally, Credit Suisse Group increased their target price on Credit Acceptance from $380.00 to $390.00 and gave the company an underperform rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The company has an average rating of Hold and an average target price of $444.17.

Shares of Credit Acceptance stock traded up $3.92 during trading on Wednesday, hitting $450.08. 2,152 shares of the stock traded hands, compared to its average volume of 130,280. The company has a quick ratio of 29.49, a current ratio of 29.49 and a debt-to-equity ratio of 1.75. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.90 and a beta of 0.67. The firm’s fifty day moving average is $438.21 and its 200-day moving average is $455.59. Credit Acceptance has a 52 week low of $385.36 and a 52 week high of $509.99.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Friday, November 1st. The credit services provider reported $8.89 EPS for the quarter, beating the consensus estimate of $8.86 by $0.03. The firm had revenue of $378.70 million for the quarter, compared to analyst estimates of $380.69 million. Credit Acceptance had a return on equity of 29.54% and a net margin of 44.69%. The company’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $7.56 EPS. On average, analysts forecast that Credit Acceptance will post 34.69 earnings per share for the current fiscal year.

In other Credit Acceptance news, insider Prescott General Partners Llc sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $441.62, for a total value of $4,416,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett A. Roberts sold 9,937 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $427.63, for a total value of $4,249,359.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,437 shares of company stock valued at $26,322,569. Company insiders own 5.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CACC. Nuveen Asset Management LLC increased its holdings in shares of Credit Acceptance by 390.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 163,973 shares of the credit services provider’s stock worth $79,336,000 after purchasing an additional 130,573 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Credit Acceptance by 13.5% in the 2nd quarter. AQR Capital Management LLC now owns 139,580 shares of the credit services provider’s stock worth $66,155,000 after purchasing an additional 16,649 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Credit Acceptance by 1.4% in the 2nd quarter. Northern Trust Corp now owns 69,497 shares of the credit services provider’s stock worth $33,625,000 after purchasing an additional 928 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Credit Acceptance by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 48,211 shares of the credit services provider’s stock worth $23,325,000 after purchasing an additional 305 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Credit Acceptance by 43.2% in the 3rd quarter. First Trust Advisors LP now owns 35,685 shares of the credit services provider’s stock worth $16,462,000 after purchasing an additional 10,764 shares in the last quarter. Institutional investors and hedge funds own 59.63% 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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Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

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