BidaskClub upgraded shares of Credit Acceptance (NASDAQ:CACC) from a buy rating to a strong-buy rating in a report issued on Tuesday morning.

Other equities analysts also recently issued reports about the company. Jefferies Group reiterated a hold rating and set a $260.00 target price (up from $240.00) on shares of Credit Acceptance in a research report on Tuesday, October 10th. BMO Capital Markets restated a hold rating and issued a $238.00 price objective on shares of Credit Acceptance in a research report on Friday, October 6th. Zacks Investment Research downgraded Credit Acceptance from a strong-buy rating to a hold rating in a research report on Tuesday, October 3rd. Bank of America boosted their price objective on Credit Acceptance from $195.00 to $230.00 and gave the company an underperform rating in a research report on Tuesday, October 31st. Finally, Credit Suisse Group boosted their price objective on Credit Acceptance from $200.00 to $225.00 and gave the company an underperform rating in a research report on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. Credit Acceptance presently has an average rating of Hold and a consensus price target of $229.78.

Credit Acceptance (CACC) opened at $326.00 on Tuesday. The firm has a market capitalization of $6,340.00, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.30 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 has a 52-week low of $182.50 and a 52-week high of $329.03.

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

A number of hedge funds and other institutional investors have recently modified their holdings of CACC. Ladenburg Thalmann Financial Services Inc. increased its stake in Credit Acceptance by 437.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 537 shares of the credit services provider’s stock worth $150,000 after acquiring an additional 437 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Credit Acceptance by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock valued at $159,000 after buying an additional 40 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Credit Acceptance by 102.8% during the second quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock valued at $159,000 after buying an additional 22,463 shares during the last quarter. Rathbone Brothers plc bought a new position in shares of Credit Acceptance during the third quarter valued at approximately $210,000. Finally, First Capital Advisors Group LLC. bought a new position in shares of Credit Acceptance during the third quarter valued at approximately $233,000. 70.72% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Credit Acceptance (CACC) Upgraded to “Strong-Buy” by BidaskClub” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/12/16/credit-acceptance-cacc-upgraded-to-strong-buy-by-bidaskclub.html.

Credit Acceptance 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 (NASDAQ:CACC)

Receive News & Stock Ratings for Credit Acceptance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance and related stocks with our FREE daily email newsletter.