Credit Acceptance (NASDAQ:CACC) Price Target Raised to $460.00

Credit Acceptance (NASDAQ:CACCGet Rating) had its target price raised by research analysts at Credit Suisse Group from $440.00 to $460.00 in a research note issued on Tuesday, The Fly reports. Credit Suisse Group’s price target would indicate a potential downside of 11.12% from the stock’s current price.

CACC has been the subject of a number of other reports. StockNews.com lowered Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Monday, April 11th. Zacks Investment Research upgraded Credit Acceptance from a “sell” rating to a “hold” rating and set a $582.00 target price on the stock in a research note on Monday, April 4th. Finally, BMO Capital Markets boosted their target price on Credit Acceptance from $411.00 to $428.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 1st. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $468.80.

NASDAQ CACC opened at $517.56 on Tuesday. The stock has a market capitalization of $7.30 billion, a PE ratio of 8.71 and a beta of 1.22. The business has a 50 day simple moving average of $537.53 and a two-hundred day simple moving average of $587.42. The company has a debt-to-equity ratio of 2.53, a current ratio of 39.04 and a quick ratio of 39.04. Credit Acceptance has a 1-year low of $381.93 and a 1-year high of $703.27.

Credit Acceptance (NASDAQ:CACCGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The credit services provider reported $14.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $13.30 by $1.64. Credit Acceptance had a return on equity of 38.72% and a net margin of 51.63%. During the same period last year, the business posted $9.64 earnings per share. On average, analysts anticipate that Credit Acceptance will post 50.7 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of CACC. EP Wealth Advisors LLC lifted its holdings in shares of Credit Acceptance by 9,151.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 55,511 shares of the credit services provider’s stock valued at $351,000 after buying an additional 54,911 shares during the period. Voloridge Investment Management LLC lifted its holdings in shares of Credit Acceptance by 2,584.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 48,644 shares of the credit services provider’s stock valued at $28,471,000 after buying an additional 46,832 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Credit Acceptance in the 4th quarter valued at about $30,786,000. Smead Capital Management Inc. lifted its holdings in shares of Credit Acceptance by 21.9% in the 4th quarter. Smead Capital Management Inc. now owns 128,656 shares of the credit services provider’s stock valued at $88,474,000 after buying an additional 23,149 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Credit Acceptance by 170.5% in the 2nd quarter. Morgan Stanley now owns 32,274 shares of the credit services provider’s stock valued at $14,656,000 after buying an additional 20,342 shares during the period. 65.05% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Company Profile (Get Rating)

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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