Credit Acceptance (NASDAQ:CACC) Given New $500.00 Price Target at Stephens

Credit Acceptance (NASDAQ:CACC) had its target price raised by analysts at Stephens from $452.00 to $500.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the credit services provider’s stock. Stephens’ target price would indicate a potential downside of 2.85% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. TD Cowen dropped their target price on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a report on Friday, November 1st. StockNews.com lowered Credit Acceptance from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd.

Credit Acceptance Trading Up 0.1 %

Shares of Credit Acceptance stock traded up $0.62 on Friday, reaching $514.68. The company had a trading volume of 52,313 shares, compared to its average volume of 56,903. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 34.57 and a beta of 1.46. 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’s 50-day moving average price is $482.31 and its two-hundred day moving average price is $475.16. Credit Acceptance has a 1 year low of $409.22 and a 1 year high of $616.66.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, topping analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. As a group, research analysts predict that Credit Acceptance will post 36.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Credit Acceptance

In related news, COO Jonathan Lum sold 552 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now directly owns 31,493 shares in the company, valued at $15,428,420.70. The trade was a 1.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Credit Acceptance

Large investors have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in Credit Acceptance during the 4th quarter valued at about $28,000. Quest Partners LLC raised its holdings in Credit Acceptance by 11,900.0% in the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 119 shares during the period. nVerses Capital LLC raised its holdings in Credit Acceptance by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 300 shares of the credit services provider’s stock worth $133,000 after purchasing an additional 200 shares during the period. SG Americas Securities LLC acquired a new position in Credit Acceptance in the 4th quarter worth about $142,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Credit Acceptance during the third quarter valued at approximately $177,000. 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.