Credit Acceptance (NASDAQ:CACC) Coverage Initiated at Stephens

Stock analysts at Stephens assumed coverage on shares of Credit Acceptance (NASDAQ:CACC) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $452.00 price target on the credit services provider’s stock. Stephens’ price target would indicate a potential upside of 2.32% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Tuesday. TD Cowen dropped their target price 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 Trading Down 0.1 %

Shares of Credit Acceptance stock opened at $441.77 on Wednesday. Credit Acceptance has a fifty-two week low of $409.22 and a fifty-two week high of $616.66. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. The company has a market cap of $5.35 billion, a P/E ratio of 29.67 and a beta of 1.42. The firm has a 50-day simple moving average of $449.10 and a two-hundred day simple moving average of $483.71.

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 analysts’ consensus estimates of $7.88 by $0.91. The company had revenue of $550.30 million for the quarter, compared to the consensus estimate of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. Credit Acceptance’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.70 earnings per share. As a group, equities analysts predict that Credit Acceptance will post 37.14 earnings per share for the current fiscal year.

Insider Transactions at Credit Acceptance

In other news, insider Thomas W. Smith sold 1,200 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the transaction, the insider now directly owns 74,450 shares of the company’s stock, valued at approximately $33,577,694.50. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of Credit Acceptance

A number of hedge funds have recently bought and sold shares of CACC. UMB Bank n.a. grew its position in shares of Credit Acceptance by 4.6% in the second quarter. UMB Bank n.a. now owns 654 shares of the credit services provider’s stock valued at $337,000 after purchasing an additional 29 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake 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 buying an additional 72 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Credit Acceptance in the 2nd quarter worth $51,000. PDT Partners LLC raised its holdings in shares of Credit Acceptance by 1.9% during the 3rd quarter. PDT Partners LLC now owns 5,458 shares of the credit services provider’s stock worth $2,420,000 after acquiring an additional 100 shares during the period. Finally, Wedge Capital Management L L P NC boosted its position in shares of Credit Acceptance by 4.2% during 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 acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

About Credit Acceptance

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.