Credit Acceptance (NASDAQ:CACC) Coverage Initiated by Analysts at Stephens

Stephens started coverage on shares of Credit Acceptance (NASDAQ:CACC) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $452.00 price objective on the credit services provider’s stock.

A number of other research firms also recently issued reports on CACC. TD Cowen dropped their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Tuesday.

Credit Acceptance Price Performance

Shares of CACC stock opened at $445.32 on Wednesday. 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 company has a market capitalization of $5.39 billion, a P/E ratio of 29.91 and a beta of 1.42. The company’s 50-day simple moving average is $449.16 and its two-hundred day simple moving average is $483.12. 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 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 for the quarter, compared to the consensus estimate of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.70 EPS. As a group, equities analysts anticipate that Credit Acceptance will post 37.14 EPS for the current year.

Insider Activity at Credit Acceptance

In related news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction that occurred 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 owns 74,450 shares of the company’s stock, valued at $33,577,694.50. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Credit Acceptance

Hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in Credit Acceptance during the second quarter valued at approximately $51,000. Quest Partners LLC raised its holdings in shares of Credit Acceptance by 11,900.0% in the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after buying an additional 119 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Credit Acceptance in the first quarter worth $156,000. Point72 Hong Kong Ltd purchased a new position in shares of Credit Acceptance in the third quarter worth $177,000. Finally, MQS Management LLC purchased a new position in shares of Credit Acceptance in the first quarter worth $242,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

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.