Oppenheimer began coverage on shares of Credit Acceptance (NASDAQ:CACC) in a report issued on Monday. The firm set a “buy” rating and a $355.00 price target on the credit services provider’s stock. Oppenheimer’s price target points to a potential upside of 7.50% from the company’s previous close.

Other analysts also recently issued reports about the company. BidaskClub downgraded Credit Acceptance from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Jefferies Group reissued a “hold” rating and set a $260.00 price objective (up from $240.00) on shares of Credit Acceptance in a research report on Tuesday, October 10th. BMO Capital Markets reissued a “hold” rating and set 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. Finally, Credit Suisse Group reissued a “sell” rating and set a $270.00 price objective on shares of Credit Acceptance in a research report on Monday. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Credit Acceptance has a consensus rating of “Hold” and an average price target of $255.50.

Shares of Credit Acceptance (NASDAQ:CACC) traded up $1.23 during trading hours on Monday, hitting $330.24. The company had a trading volume of 136,418 shares, compared to its average volume of 145,645. The company has a quick ratio of 17.63, a current ratio of 17.63 and a debt-to-equity ratio of 2.12. The firm has a market cap of $6,380.00, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.30 and a beta of 0.54. Credit Acceptance has a 1 year low of $182.50 and a 1 year high of $338.12.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Monday, October 30th. The credit services provider reported $5.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.15 by $0.28. The firm had revenue of $283.90 million during 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%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the company earned $4.53 EPS. sell-side analysts expect that Credit Acceptance will post 20.74 EPS for the current year.

In related news, major shareholder Jill Foss Watson sold 18,106 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $326.06, for a total transaction of $5,903,642.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 114,925 shares of company stock valued at $37,901,719 over the last 90 days. 5.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in CACC. Koch Industries Inc. purchased a new position in Credit Acceptance during the 2nd quarter valued at about $240,000. Goldman Sachs Group Inc. boosted its holdings in Credit Acceptance by 479.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 138,545 shares of the credit services provider’s stock valued at $35,626,000 after acquiring an additional 114,632 shares during the period. First Trust Advisors LP boosted its holdings in Credit Acceptance by 5,945.1% during the 3rd quarter. First Trust Advisors LP now owns 53,378 shares of the credit services provider’s stock valued at $14,955,000 after acquiring an additional 52,495 shares during the period. BlackRock Inc. boosted its holdings in Credit Acceptance by 11.4% during the 2nd quarter. BlackRock Inc. now owns 446,139 shares of the credit services provider’s stock valued at $114,720,000 after acquiring an additional 45,768 shares during the period. Finally, Howard Hughes Medical Institute boosted its holdings in Credit Acceptance by 55.2% during the 2nd quarter. Howard Hughes Medical Institute now owns 78,918 shares of the credit services provider’s stock valued at $20,293,000 after acquiring an additional 28,082 shares during the period. Institutional investors own 70.69% 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.

Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

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