BidaskClub Lowers Credit Acceptance (NASDAQ:CACC) to Strong Sell

BidaskClub lowered shares of Credit Acceptance (NASDAQ:CACC) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning, BidAskClub reports.

A number of other analysts have also recently weighed in on CACC. Zacks Investment Research cut shares of Credit Acceptance from a strong-buy rating to a hold rating and set a $480.00 price target on the stock. in a report on Tuesday, July 28th. Jefferies Financial Group restated a hold rating and issued a $450.00 price target on shares of Credit Acceptance in a report on Tuesday, August 11th. ValuEngine cut shares of Credit Acceptance from a hold rating to a sell rating in a report on Tuesday, September 1st. TheStreet upgraded shares of Credit Acceptance from a c+ rating to a b rating in a report on Thursday, July 30th. Finally, Credit Suisse Group raised their price target on shares of Credit Acceptance from $200.00 to $240.00 and gave the company an underperform rating in a report on Friday, July 31st. Five equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company has a consensus rating of Hold and a consensus target price of $315.86.

NASDAQ CACC opened at $319.64 on Friday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 21.20 and a current ratio of 21.20. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 8.78 and a beta of 1.12. The company’s 50-day simple moving average is $437.79 and its two-hundred day simple moving average is $382.75. Credit Acceptance has a one year low of $199.00 and a one year high of $539.00.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Thursday, July 30th. The credit services provider reported $5.40 EPS for the quarter, missing analysts’ consensus estimates of $8.36 by ($2.96). The business had revenue of $406.30 million for the quarter, compared to analysts’ expectations of $372.72 million. Credit Acceptance had a net margin of 21.79% and a return on equity of 30.64%. Equities analysts expect that Credit Acceptance will post 34.46 earnings per share for the current fiscal year.

In other Credit Acceptance news, major shareholder Donald A. Foss sold 6,175 shares of Credit Acceptance stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $451.45, for a total transaction of $2,787,703.75. Following the completion of the sale, the insider now directly owns 1,753,229 shares in the company, valued at approximately $791,495,232.05. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Glenda J. Flanagan sold 2,000 shares of Credit Acceptance stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $513.05, for a total transaction of $1,026,100.00. The disclosure for this sale can be found here. Insiders sold a total of 30,329 shares of company stock valued at $13,529,755 over the last quarter. 5.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CACC. Aperio Group LLC lifted its stake in Credit Acceptance by 47.3% during the 1st quarter. Aperio Group LLC now owns 3,637 shares of the credit services provider’s stock valued at $930,000 after acquiring an additional 1,168 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Credit Acceptance by 30.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 839 shares of the credit services provider’s stock valued at $215,000 after acquiring an additional 196 shares during the period. Swiss National Bank lifted its stake in Credit Acceptance by 1.5% during the 1st quarter. Swiss National Bank now owns 20,077 shares of the credit services provider’s stock valued at $5,133,000 after acquiring an additional 300 shares during the period. CWM Advisors LLC acquired a new stake in Credit Acceptance during the 1st quarter valued at approximately $35,000. Finally, Blair William & Co. IL lifted its stake in Credit Acceptance by 1.7% during the 1st quarter. Blair William & Co. IL now owns 11,652 shares of the credit services provider’s stock valued at $2,979,000 after acquiring an additional 190 shares during the period. Institutional investors and hedge funds own 72.23% 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.

Featured Story: Benefits of owning preferred stock

Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

Receive News & Ratings for Credit Acceptance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance and related companies with MarketBeat.com's FREE daily email newsletter.