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

Credit Acceptance (NASDAQ:CACCGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

CACC has been the subject of several other reports. BMO Capital Markets upped their target price on Credit Acceptance from $411.00 to $428.00 and gave the company a “market perform” rating in a research note on Tuesday, February 1st. Credit Suisse Group upped their price target on Credit Acceptance from $440.00 to $460.00 in a research note on Tuesday, May 3rd. Finally, Zacks Investment Research upgraded Credit Acceptance from a “sell” rating to a “hold” rating and set a $582.00 price target for the company in a research note on Monday, April 4th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $468.80.

Credit Acceptance stock opened at $568.06 on Thursday. The firm has a market capitalization of $7.46 billion, a P/E ratio of 9.09 and a beta of 1.22. The stock has a fifty day moving average price of $544.80 and a 200 day moving average price of $586.84. Credit Acceptance has a 52 week low of $381.93 and a 52 week high of $703.27. The company has a current ratio of 21.07, a quick ratio of 39.04 and a debt-to-equity ratio of 2.85.

Credit Acceptance (NASDAQ:CACCGet Rating) last released its earnings results on Monday, May 2nd. The credit services provider reported $14.94 EPS for the quarter, beating the consensus estimate of $13.30 by $1.64. Credit Acceptance had a return on equity of 44.07% and a net margin of 52.16%. During the same period last year, the company earned $9.64 earnings per share. As a group, equities analysts predict that Credit Acceptance will post 50.7 EPS for the current year.

In other news, insider Prescott General Partners Llc sold 28,897 shares of the company’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $608.37, for a total value of $17,580,067.89. Following the completion of the sale, the insider now owns 1,090,732 shares of the company’s stock, valued at $663,568,626.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Coastal Investment Advisors Inc. boosted its position in shares of Credit Acceptance by 3.0% in the first quarter. Coastal Investment Advisors Inc. now owns 678 shares of the credit services provider’s stock worth $373,000 after buying an additional 20 shares during the period. MBM Wealth Consultants LLC boosted its holdings in Credit Acceptance by 6.3% in the fourth quarter. MBM Wealth Consultants LLC now owns 369 shares of the credit services provider’s stock valued at $254,000 after purchasing an additional 22 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Credit Acceptance by 3.8% in the third quarter. Panagora Asset Management Inc. now owns 703 shares of the credit services provider’s stock valued at $411,000 after purchasing an additional 26 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in Credit Acceptance by 12.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 250 shares of the credit services provider’s stock valued at $171,000 after purchasing an additional 28 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Credit Acceptance by 3.5% in the third quarter. Truist Financial Corp now owns 847 shares of the credit services provider’s stock valued at $496,000 after purchasing an additional 29 shares during the last quarter. 65.05% of the stock is owned by institutional investors.

About Credit Acceptance (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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