Credit Acceptance (NASDAQ:CACC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Credit Acceptance (NASDAQ:CACC) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

Separately, TD Cowen cut their target price on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $439.61 on Tuesday. The stock’s 50 day moving average price is $449.49 and its two-hundred day moving average price is $484.29. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 29.52 and a beta of 1.42. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. Credit Acceptance has a 52-week low of $406.53 and a 52-week high of $616.66.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. The business had revenue of $550.30 million during the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the company posted $10.70 earnings per share. On average, equities analysts predict that Credit Acceptance will post 37.14 earnings per share for the current year.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $451.01, for a total value of $541,212.00. Following the transaction, the insider now owns 74,450 shares of the company’s stock, valued at approximately $33,577,694.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Credit Acceptance

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its holdings in Credit Acceptance by 24.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider’s stock worth $41,704,000 after buying an additional 18,530 shares during the last quarter. Alfreton Capital LLP increased its stake in shares of Credit Acceptance by 22.7% during the 2nd quarter. Alfreton Capital LLP now owns 98,128 shares of the credit services provider’s stock worth $50,505,000 after purchasing an additional 18,128 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Credit Acceptance in the 1st quarter worth approximately $6,830,000. Quantum Capital Management LLC NJ lifted its stake in Credit Acceptance by 20.8% in the first quarter. Quantum Capital Management LLC NJ now owns 63,920 shares of the credit services provider’s stock valued at $35,255,000 after purchasing an additional 11,024 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Credit Acceptance by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 179,655 shares of the credit services provider’s stock valued at $92,455,000 after purchasing an additional 7,064 shares during the period. 81.71% of the stock is currently owned by institutional investors.

Credit Acceptance Company Profile

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.