Jefferies Group LLC reaffirmed their hold rating on shares of Credit Acceptance Corporation (NASDAQ:CACC) in a research report sent to investors on Tuesday morning. The brokerage currently has a $260.00 target price on the credit services provider’s stock, up from their prior target price of $240.00.

Several other analysts also recently weighed in on CACC. JMP Securities restated an underperform rating and issued a $195.00 price objective (up from $180.00) on shares of Credit Acceptance Corporation in a report on Tuesday, August 1st. BMO Capital Markets lifted their price objective on Credit Acceptance Corporation from $226.00 to $238.00 and gave the company a market perform rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded Credit Acceptance Corporation from a strong-buy rating to a hold rating in a report on Tuesday, October 3rd. Raymond James Financial, Inc. upgraded Credit Acceptance Corporation from an underperform rating to a market perform rating in a report on Tuesday, August 1st. Finally, Credit Suisse Group restated an underperform rating and issued a $200.00 price objective (up from $190.00) on shares of Credit Acceptance Corporation in a report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $224.88.

Credit Acceptance Corporation (CACC) traded up 0.570% during mid-day trading on Tuesday, hitting $282.904. 57,519 shares of the stock were exchanged. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 15.463 and a beta of 0.55. The stock has a 50 day moving average of $272.83 and a 200-day moving average of $241.89. Credit Acceptance Corporation has a 52-week low of $160.63 and a 52-week high of $288.23.

Credit Acceptance Corporation (NASDAQ:CACC) last released its quarterly earnings data on Monday, July 31st. The credit services provider reported $5.22 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.33. The firm had revenue of $253.20 million during the quarter, compared to the consensus estimate of $268.18 million. Credit Acceptance Corporation had a return on equity of 32.24% and a net margin of 35.13%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.38 earnings per share. Equities analysts predict that Credit Acceptance Corporation will post $19.90 EPS for the current fiscal year.

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In other Credit Acceptance Corporation news, insider Douglas W. Busk sold 2,500 shares of Credit Acceptance Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $267.72, for a total value of $669,300.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Jill Foss Watson sold 35,348 shares of Credit Acceptance Corporation stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $275.69, for a total value of $9,745,090.12. The disclosure for this sale can be found here. Insiders sold 152,858 shares of company stock worth $41,562,168 in the last quarter. 5.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Abrams Bison Investments LLC grew its stake in Credit Acceptance Corporation by 0.9% in the second quarter. Abrams Bison Investments LLC now owns 1,169,556 shares of the credit services provider’s stock valued at $300,740,000 after purchasing an additional 10,157 shares during the last quarter. Vanguard Group Inc. grew its stake in Credit Acceptance Corporation by 26.9% in the first quarter. Vanguard Group Inc. now owns 931,364 shares of the credit services provider’s stock valued at $185,723,000 after purchasing an additional 197,463 shares during the last quarter. BlackRock Inc. grew its stake in Credit Acceptance Corporation by 11.4% in the second quarter. BlackRock Inc. now owns 446,139 shares of the credit services provider’s stock valued at $114,720,000 after purchasing an additional 45,768 shares during the last quarter. Beck Mack & Oliver LLC grew its stake in Credit Acceptance Corporation by 0.7% in the second quarter. Beck Mack & Oliver LLC now owns 363,977 shares of the credit services provider’s stock valued at $93,593,000 after purchasing an additional 2,682 shares during the last quarter. Finally, Koch Industries Inc. purchased a new position in Credit Acceptance Corporation in the second quarter valued at about $240,000. Institutional investors own 72.71% of the company’s stock.

Credit Acceptance Corporation Company Profile

Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.

Analyst Recommendations for Credit Acceptance Corporation (NASDAQ:CACC)

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