Credit Acceptance (NASDAQ:CACC) Downgraded to Sell at ValuEngine

ValuEngine lowered shares of Credit Acceptance (NASDAQ:CACC) from a hold rating to a sell rating in a research note issued to investors on Thursday, September 5th, ValuEngine reports.

CACC has been the subject of a number of other research reports. BidaskClub cut Credit Acceptance from a hold rating to a sell rating in a report on Wednesday, August 28th. BMO Capital Markets boosted their price objective on shares of Credit Acceptance to $484.00 and gave the company a market perform rating in a research report on Thursday, August 1st. Credit Suisse Group set a $380.00 price objective on shares of Credit Acceptance and gave the company an underperform rating in a research report on Wednesday, July 31st. Finally, BTIG Research restated a sell rating and set a $340.00 price objective on shares of Credit Acceptance in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock presently has an average rating of Hold and an average target price of $441.00.

Shares of CACC traded up $6.78 during midday trading on Thursday, hitting $482.00. The stock had a trading volume of 1 shares, compared to its average volume of 76,611. The company has a 50 day simple moving average of $464.06 and a two-hundred day simple moving average of $468.18. Credit Acceptance has a twelve month low of $356.12 and a twelve month high of $509.99. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 1.34 and a beta of 0.75. The company has a debt-to-equity ratio of 1.89, a current ratio of 28.16 and a quick ratio of 28.16.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $8.60 earnings per share for the quarter, topping analysts’ consensus estimates of $8.52 by $0.08. The firm had revenue of $370.60 million for the quarter, compared to the consensus estimate of $363.38 million. Credit Acceptance had a return on equity of 30.02% and a net margin of 45.15%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.95 earnings per share. Analysts forecast that Credit Acceptance will post 34.67 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Credit Acceptance by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 138,652 shares of the credit services provider’s stock worth $52,931,000 after purchasing an additional 9,406 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Credit Acceptance during the 1st quarter worth approximately $212,000. LVW Advisors LLC purchased a new stake in shares of Credit Acceptance during the 1st quarter worth approximately $610,000. State Board of Administration of Florida Retirement System increased its stake in shares of Credit Acceptance by 2.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,541 shares of the credit services provider’s stock worth $5,668,000 after purchasing an additional 260 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Credit Acceptance by 15.3% during the 1st quarter. California Public Employees Retirement System now owns 20,204 shares of the credit services provider’s stock worth $9,131,000 after purchasing an additional 2,677 shares during the last quarter. Institutional investors own 66.05% 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.

Further Reading: What is Cost of Debt?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.