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

Credit Acceptance (NASDAQ:CACC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

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

Credit Acceptance Price Performance

Shares of NASDAQ:CACC opened at $442.00 on Tuesday. The company’s fifty day moving average price is $449.28 and its 200-day moving average price is $484.00. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 29.68 and a beta of 1.42. Credit Acceptance has a one year low of $409.22 and a one year high of $616.66.

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

Insider Activity

In related news, insider Thomas W. Smith sold 1,200 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total transaction of $541,212.00. Following the completion of the sale, the insider now directly owns 74,450 shares in the company, valued at $33,577,694.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Credit Acceptance

Large investors have recently made changes to their positions in the business. UMB Bank n.a. lifted its stake in Credit Acceptance by 4.6% during the second quarter. UMB Bank n.a. now owns 654 shares of the credit services provider’s stock worth $337,000 after purchasing an additional 29 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Credit Acceptance by 3.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,161 shares of the credit services provider’s stock worth $1,191,000 after purchasing an additional 72 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Credit Acceptance in the 2nd quarter valued at $51,000. Wedge Capital Management L L P NC grew its position in shares of Credit Acceptance by 4.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,617 shares of the credit services provider’s stock valued at $1,160,000 after buying an additional 105 shares during the last quarter. Finally, Lountzis Asset Management LLC raised its stake in Credit Acceptance by 22.3% during the 3rd quarter. Lountzis Asset Management LLC now owns 598 shares of the credit services provider’s stock worth $265,000 after acquiring an additional 109 shares in the last quarter. 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.