Credit Acceptance (NASDAQ:CACC) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Credit Acceptance from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research note on Friday, August 3rd. JMP Securities lifted their target price on shares of Credit Acceptance from $260.00 to $350.00 and gave the company a “market underperform” rating in a research note on Thursday, August 2nd. BMO Capital Markets lifted their target price on shares of Credit Acceptance from $305.00 to $312.00 and gave the company a “market perform” rating in a research note on Thursday, August 2nd. Susquehanna Bancshares lifted their target price on shares of Credit Acceptance from $350.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Finally, Compass Point raised shares of Credit Acceptance from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 1st. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $327.78.

Shares of Credit Acceptance stock opened at $450.64 on Friday. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.82 and a beta of 0.51. Credit Acceptance has a 12-month low of $256.27 and a 12-month high of $467.26. The company has a debt-to-equity ratio of 2.03, a quick ratio of 33.69 and a current ratio of 33.69.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Tuesday, July 31st. The credit services provider reported $6.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.44 by $0.51. The business had revenue of $315.40 million for the quarter, compared to analyst estimates of $303.55 million. Credit Acceptance had a net margin of 46.43% and a return on equity of 28.97%. research analysts expect that Credit Acceptance will post 27.68 earnings per share for the current fiscal year.

In other news, insider Prescott General Partners Llc sold 36,900 shares of Credit Acceptance stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $453.38, for a total transaction of $16,729,722.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth Booth sold 2,000 shares of Credit Acceptance stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $375.00, for a total transaction of $750,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,230 shares of company stock worth $35,120,602 in the last ninety days. Insiders own 5.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CACC. Glen Harbor Capital Management LLC purchased a new position in Credit Acceptance during the 1st quarter valued at about $102,000. Meadow Creek Investment Management LLC purchased a new position in Credit Acceptance during the 1st quarter valued at about $157,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Credit Acceptance by 57.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 616 shares of the credit services provider’s stock valued at $218,000 after acquiring an additional 226 shares during the period. Verition Fund Management LLC purchased a new position in Credit Acceptance during the 1st quarter valued at about $244,000. Finally, Financial Architects Inc purchased a new position in Credit Acceptance during the 2nd quarter valued at about $254,000. 67.58% of the stock is owned by institutional investors.

Credit Acceptance Company Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

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