Credit Acceptance (NASDAQ:CACC) Price Target Lowered to $380.00 at TD Cowen

Credit Acceptance (NASDAQ:CACC - Free Report) had its price objective cut by TD Cowen from $400.00 to $380.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a sell rating on the credit services provider's stock.

Credit Acceptance Stock Performance

CACC stock traded down $7.67 during midday trading on Friday, reaching $417.33. The company had a trading volume of 90,289 shares, compared to its average volume of 57,251. The firm has a market capitalization of $5.05 billion, a PE ratio of 28.03 and a beta of 1.42. The stock has a 50 day moving average price of $454.37 and a 200 day moving average price of $489.87. Credit Acceptance has a fifty-two week low of $406.53 and a fifty-two week high of $616.66. The company has a quick ratio of 19.15, a current ratio of 19.15 and a debt-to-equity ratio of 3.77.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.15% and a net margin of 9.08%. The business had revenue of $550.30 million during the quarter, compared to analyst estimates of $548.13 million. During the same quarter in the previous year, the firm posted $10.70 EPS. The business's revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts anticipate that Credit Acceptance will post 46.7 earnings per share for the current year.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the firm's stock in a transaction that occurred 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in Credit Acceptance in the second quarter worth about $51,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Credit Acceptance in the first quarter valued at approximately $156,000. MQS Management LLC acquired a new position in shares of Credit Acceptance during the first quarter valued at approximately $242,000. FORA Capital LLC bought a new stake in Credit Acceptance during the first quarter worth approximately $269,000. Finally, Headlands Technologies LLC raised its holdings 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 worth $257,000 after purchasing an additional 497 shares in the last quarter. Institutional investors own 81.71% of the company's stock.

About Credit Acceptance

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.