Credit Acceptance (NASDAQ:CACC) Price Target Lowered to $420.00 at TD Cowen

Credit Acceptance (NASDAQ:CACC) had its target price lowered by equities research analysts at TD Cowen from $465.00 to $420.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “sell” rating on the credit services provider’s stock. TD Cowen’s price objective would suggest a potential downside of 16.07% from the stock’s current price.

Separately, StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $396.75.

Credit Acceptance Stock Up 1.6 %

Shares of Credit Acceptance stock traded up $7.81 during trading hours on Thursday, reaching $500.39. The company’s stock had a trading volume of 47,733 shares, compared to its average volume of 67,352. The company has a market capitalization of $6.15 billion, a P/E ratio of 25.61 and a beta of 1.44. The company has a debt-to-equity ratio of 2.84, a quick ratio of 15.71 and a current ratio of 15.71. The stock’s fifty day simple moving average is $544.58 and its two-hundred day simple moving average is $509.70. Credit Acceptance has a one year low of $379.77 and a one year high of $616.66.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share for the quarter, topping analysts’ consensus estimates of $6.81 by $2.47. The firm had revenue of $508.00 million during the quarter, compared to analyst estimates of $497.71 million. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.34%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $9.71 EPS. On average, research analysts forecast that Credit Acceptance will post 40.95 earnings per share for the current year.

Insider Activity

In other Credit Acceptance news, insider Douglas W. Busk sold 500 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,804,897.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Credit Acceptance news, insider Douglas W. Busk sold 500 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total value of $289,990.00. Following the sale, the insider now directly owns 3,112 shares in the company, valued at $1,804,897.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas W. Busk sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total value of $1,431,450.00. Following the completion of the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,781,868.96. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Credit Acceptance

Several large investors have recently added to or reduced their stakes in CACC. Whittier Trust Co. bought a new stake in Credit Acceptance in the 4th quarter worth approximately $74,000. National Bank of Canada FI lifted its holdings in shares of Credit Acceptance by 242.3% during the fourth quarter. National Bank of Canada FI now owns 243 shares of the credit services provider’s stock valued at $131,000 after purchasing an additional 172 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Credit Acceptance by 15.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock valued at $180,000 after acquiring an additional 46 shares during the period. Panagora Asset Management Inc. purchased a new stake in Credit Acceptance in the fourth quarter worth about $210,000. Finally, Beacon Pointe Advisors LLC bought a new stake in Credit Acceptance in the 4th quarter worth approximately $211,000. 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.