Credit Acceptance (NASDAQ:CACC) Price Target Cut to $380.00 by Analysts at TD Cowen

Credit Acceptance (NASDAQ:CACC) had its price target cut by TD Cowen from $400.00 to $380.00 in a report issued on Friday, Benzinga reports. They currently have a sell rating on the credit services provider’s stock.

Credit Acceptance Stock Up 1.5 %

NASDAQ:CACC opened at $423.62 on Friday. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 19.15. The firm’s 50-day moving average price is $452.04 and its 200-day moving average price is $487.52. Credit Acceptance has a 1-year low of $406.53 and a 1-year high of $616.66. The company has a market capitalization of $5.13 billion, a PE ratio of 28.45 and a beta of 1.42.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. The firm had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm posted $10.70 earnings per share. On average, equities analysts predict that Credit Acceptance will post 37.85 EPS for the current fiscal year.

Insider Buying and Selling at Credit Acceptance

In other news, insider Thomas W. Smith sold 1,200 shares of Credit Acceptance stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total transaction of $541,212.00. Following the transaction, the insider now owns 74,450 shares in the company, valued at $33,577,694.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of Credit Acceptance

Hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. raised its stake in Credit Acceptance by 4.6% during the second quarter. UMB Bank n.a. now owns 654 shares of the credit services provider’s stock valued at $337,000 after purchasing an additional 29 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Credit Acceptance by 3.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,161 shares of the credit services provider’s stock valued at $1,191,000 after buying an additional 72 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Credit Acceptance in the 2nd quarter valued at about $51,000. Wedge Capital Management L L P NC grew its position in Credit Acceptance by 4.2% in the third quarter. Wedge Capital Management L L P NC now owns 2,617 shares of the credit services provider’s stock worth $1,160,000 after acquiring an additional 105 shares in the last quarter. Finally, Lountzis Asset Management LLC increased its stake in Credit Acceptance by 22.3% during the third quarter. Lountzis Asset Management LLC now owns 598 shares of the credit services provider’s stock worth $265,000 after acquiring an additional 109 shares during the last quarter. 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.