Credit Acceptance (NASDAQ:CACC) Stock Rating Lowered by StockNews.com

Credit Acceptance (NASDAQ:CACC - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Monday.

Separately, TD Cowen cut their price target on Credit Acceptance from $400.00 to $380.00 and set a "sell" rating on the stock in a research note on Friday.

Credit Acceptance Price Performance

Shares of CACC traded up $6.29 on Monday, hitting $423.62. The company's stock had a trading volume of 88,805 shares, compared to its average volume of 57,399. The company has a market capitalization of $5.13 billion, a PE ratio of 28.45 and a beta of 1.42. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 19.15. Credit Acceptance has a fifty-two week low of $406.53 and a fifty-two week high of $616.66. The company has a 50 day moving average price of $453.10 and a 200 day moving average price of $488.32.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, topping the consensus estimate of $7.88 by $0.91. The business had revenue of $550.30 million for the quarter, compared to the consensus estimate of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. Credit Acceptance's revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $10.70 EPS. On average, research analysts anticipate that Credit Acceptance will post 37.85 earnings per share for the current fiscal year.

Insider Activity at Credit Acceptance

In related news, insider Thomas W. Smith sold 1,200 shares of Credit Acceptance stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $451.01, for a total transaction of $541,212.00. Following the completion of the transaction, the insider now owns 74,450 shares in the company, valued at approximately $33,577,694.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Credit Acceptance

Institutional investors have recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of Credit Acceptance during the second quarter worth approximately $51,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Credit Acceptance during the first quarter valued at approximately $156,000. MQS Management LLC acquired a new position in Credit Acceptance during the first quarter valued at approximately $242,000. FORA Capital LLC acquired a new position in Credit Acceptance during the first quarter valued at approximately $269,000. Finally, Headlands Technologies LLC raised its position in Credit Acceptance by 24,850.0% during the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider's stock valued at $257,000 after purchasing an additional 497 shares in the last quarter. 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.

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