Credit Acceptance (NASDAQ:CACC) Given New $500.00 Price Target at Stephens

Credit Acceptance (NASDAQ:CACC) had its price objective upped by investment analysts at Stephens from $452.00 to $500.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the credit services provider’s stock. Stephens’ price target would suggest a potential downside of 2.85% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Credit Acceptance from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. TD Cowen decreased their price target on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research note on Friday, November 1st.

Credit Acceptance Stock Up 0.1 %

Credit Acceptance stock traded up $0.62 during mid-day trading on Friday, hitting $514.68. The company had a trading volume of 52,313 shares, compared to its average volume of 56,903. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79. The stock’s 50 day moving average price is $482.31 and its two-hundred day moving average price is $475.16. Credit Acceptance has a 12 month low of $409.22 and a 12 month high of $616.66. The company has a market capitalization of $6.23 billion, a PE ratio of 34.57 and a beta of 1.46.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. As a group, sell-side analysts anticipate that Credit Acceptance will post 36.53 earnings per share for the current fiscal year.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total value of $270,424.80. Following the completion of the sale, the chief operating officer now owns 31,493 shares in the company, valued at $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Trading of Credit Acceptance

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Bay Advisors LLC bought a new position in shares of Credit Acceptance in the fourth quarter worth about $28,000. Quest Partners LLC boosted its stake in shares of Credit Acceptance by 11,900.0% in the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after acquiring an additional 119 shares during the period. nVerses Capital LLC boosted its stake in shares of Credit Acceptance by 200.0% in the third quarter. nVerses Capital LLC now owns 300 shares of the credit services provider’s stock worth $133,000 after acquiring an additional 200 shares during the period. SG Americas Securities LLC bought a new position in shares of Credit Acceptance in the fourth quarter worth about $142,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Credit Acceptance in the third quarter worth about $177,000. 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.