Credit Acceptance Corporation (NASDAQ:CACC) reached a new 52-week high during trading on Thursday . The stock traded as high as $311.61 and last traded at $308.78, with a volume of 192100 shares traded. The stock had previously closed at $309.07.

Several equities research analysts recently commented on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $252.00 price objective (up from $238.00) on shares of Credit Acceptance in a research report on Tuesday, October 31st. Jefferies Group reiterated a “hold” rating and issued a $260.00 price objective (up from $240.00) on shares of Credit Acceptance in a research report on Tuesday, October 10th. Zacks Investment Research lowered shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Credit Suisse Group upped their target price on shares of Credit Acceptance from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 31st. Finally, Bank of America upped their target price on shares of Credit Acceptance from $195.00 to $230.00 and gave the company an “underperform” rating in a report on Tuesday, October 31st. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $229.78.

The company has a market capitalization of $6,170.00, a price-to-earnings ratio of 15.62, a PEG ratio of 1.28 and a beta of 0.53. The company has a current ratio of 17.63, a quick ratio of 17.63 and a debt-to-equity ratio of 2.12.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Monday, October 30th. The credit services provider reported $5.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.15 by $0.28. The company had revenue of $283.90 million for the quarter, compared to analyst estimates of $281.03 million. Credit Acceptance had a net margin of 35.29% and a return on equity of 32.08%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.53 EPS. equities analysts forecast that Credit Acceptance Corporation will post 20.84 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. purchased a new position in shares of Credit Acceptance during the 2nd quarter worth about $28,338,000. Rational Advisors LLC purchased a new position in shares of Credit Acceptance during the 3rd quarter worth about $1,180,000. Rhumbline Advisers lifted its holdings in shares of Credit Acceptance by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 15,244 shares of the credit services provider’s stock worth $3,920,000 after acquiring an additional 2,883 shares during the period. Caldwell & Orkin Inc. purchased a new position in shares of Credit Acceptance during the 2nd quarter worth about $2,186,000. Finally, Allen Investment Management LLC lifted its holdings in shares of Credit Acceptance by 28.1% during the 2nd quarter. Allen Investment Management LLC now owns 3,002 shares of the credit services provider’s stock worth $772,000 after acquiring an additional 658 shares during the period. Institutional investors own 70.72% of the company’s stock.

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About Credit Acceptance

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.

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