Stephens Begins Coverage on Credit Acceptance (NASDAQ:CACC)

Analysts at Stephens assumed coverage on shares of Credit Acceptance (NASDAQ:CACC - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage set an "equal weight" rating and a $452.00 price target on the credit services provider's stock. Stephens' price target points to a potential upside of 1.79% from the company's previous close.

Several other research analysts also recently weighed in on the stock. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Tuesday. TD Cowen lowered their target price 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 Trading Up 1.0 %

CACC stock traded up $4.45 during midday trading on Wednesday, reaching $444.06. 54,686 shares of the company's stock traded hands, compared to its average volume of 58,515. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. Credit Acceptance has a fifty-two week low of $409.22 and a fifty-two week high of $616.66. The business has a 50-day moving average price of $449.49 and a two-hundred day moving average price of $484.29. The company has a market capitalization of $5.38 billion, a P/E ratio of 29.91 and a beta of 1.42.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping analysts' consensus estimates of $7.88 by $0.91. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The firm had revenue of $550.30 million during the quarter, compared to analysts' expectations of $548.13 million. During the same period in the prior year, the company earned $10.70 EPS. The firm's revenue was up 15.0% on a year-over-year basis. Equities research analysts forecast that Credit Acceptance will post 37.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Thomas W. Smith sold 1,200 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the transaction, the insider now directly owns 74,450 shares of the company's stock, valued at approximately $33,577,694.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in Credit Acceptance by 13.1% during the 3rd quarter. FMR LLC now owns 1,037 shares of the credit services provider's stock worth $460,000 after purchasing an additional 120 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Credit Acceptance by 148.7% during the 3rd quarter. Quantbot Technologies LP now owns 3,069 shares of the credit services provider's stock worth $1,361,000 after acquiring an additional 1,835 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Credit Acceptance by 24.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider's stock valued at $41,704,000 after purchasing an additional 18,530 shares during the period. EverSource Wealth Advisors LLC lifted its position in Credit Acceptance by 16.1% during the third quarter. EverSource Wealth Advisors LLC now owns 3,184 shares of the credit services provider's stock worth $1,412,000 after acquiring an additional 441 shares during the last quarter. Finally, Smead Capital Management Inc. boosted its stake in Credit Acceptance by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider's stock valued at $92,155,000 after purchasing an additional 7,012 shares during the period. 81.71% of the stock is owned by institutional investors.

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.