Shares of Credit Acceptance Co. (NASDAQ:CACC - Get Free Report) fell 4% during mid-day trading on Thursday . The company traded as low as $494.94 and last traded at $498.96. 44,509 shares were traded during mid-day trading, a decline of 31% from the average session volume of 64,574 shares. The stock had previously closed at $519.88.
Wall Street Analysts Forecast Growth
CACC has been the subject of several research analyst reports. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Wednesday, February 28th. TD Cowen cut their target price on shares of Credit Acceptance from $465.00 to $420.00 and set a "sell" rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $402.33.
View Our Latest Analysis on Credit Acceptance
Credit Acceptance Price Performance
The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 26.67 and a beta of 1.44. The company has a 50-day simple moving average of $538.18 and a two-hundred day simple moving average of $516.66. The company has a debt-to-equity ratio of 3.29, a current ratio of 13.79 and a quick ratio of 13.79.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.81 by $2.47. The firm had revenue of $508.00 million for the quarter, compared to analysts' expectations of $497.71 million. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.70%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $9.71 earnings per share. On average, equities research analysts predict that Credit Acceptance Co. will post 40.28 earnings per share for the current year.
Insider Activity at Credit Acceptance
In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of the firm's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the transaction, the insider now owns 3,112 shares in the company, valued at $1,781,868.96. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Credit Acceptance
Several hedge funds have recently bought and sold shares of CACC. Whittier Trust Co. bought a new stake in shares of Credit Acceptance during the fourth quarter worth $74,000. National Bank of Canada FI lifted its holdings in shares of Credit Acceptance by 242.3% during the 4th quarter. National Bank of Canada FI now owns 243 shares of the credit services provider's stock worth $131,000 after acquiring an additional 172 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Credit Acceptance in the 1st quarter valued at $156,000. Harbor Capital Advisors Inc. boosted its position in Credit Acceptance by 15.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider's stock worth $180,000 after buying an additional 46 shares during the period. Finally, Panagora Asset Management Inc. bought a new stake in Credit Acceptance during the 4th quarter worth approximately $210,000. 81.71% of the stock is currently owned by institutional investors and hedge funds.
Credit Acceptance Company Profile
(
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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.
Further Reading
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