BMO Capital Markets Increases Credit Acceptance (NASDAQ:CACC) Price Target to $484.00

Credit Acceptance (NASDAQ:CACC) had its target price lifted by BMO Capital Markets to $484.00 in a research note published on Thursday morning, The Fly reports. BMO Capital Markets currently has a market perform rating on the credit services provider’s stock.

CACC has been the subject of a number of other research reports. BTIG Research restated a sell rating and set a $340.00 price objective on shares of Credit Acceptance in a research report on Wednesday, July 31st. Zacks Investment Research lowered Credit Acceptance from a buy rating to a hold rating in a research report on Thursday, May 2nd. Credit Suisse Group set a $380.00 price objective on Credit Acceptance and gave the company an underperform rating in a research report on Wednesday, July 31st. Stephens raised their price objective on Credit Acceptance from $381.00 to $495.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Finally, BidaskClub lowered Credit Acceptance from a buy rating to a hold rating in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company currently has an average rating of Hold and an average target price of $441.00.

Shares of Credit Acceptance stock opened at $466.17 on Thursday. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 1.36 and a beta of 0.74. The firm’s 50-day moving average price is $484.53. The company has a current ratio of 28.16, a quick ratio of 31.27 and a debt-to-equity ratio of 1.89. Credit Acceptance has a twelve month low of $356.12 and a twelve month high of $509.99.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $8.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.52 by $0.08. The firm had revenue of $370.60 million during the quarter, compared to analyst estimates of $363.38 million. Credit Acceptance had a return on equity of 30.02% and a net margin of 45.15%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $6.95 earnings per share. Sell-side analysts forecast that Credit Acceptance will post 34.59 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CACC. Norges Bank purchased a new position in Credit Acceptance in the fourth quarter worth about $42,095,000. Deutsche Bank AG grew its position in Credit Acceptance by 684.6% in the fourth quarter. Deutsche Bank AG now owns 29,038 shares of the credit services provider’s stock worth $11,084,000 after acquiring an additional 25,337 shares in the last quarter. Geode Capital Management LLC grew its position in Credit Acceptance by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 138,652 shares of the credit services provider’s stock worth $52,931,000 after acquiring an additional 9,406 shares in the last quarter. Wasatch Advisors Inc. grew its position in Credit Acceptance by 1.9% in the first quarter. Wasatch Advisors Inc. now owns 256,285 shares of the credit services provider’s stock worth $115,823,000 after acquiring an additional 4,789 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Credit Acceptance by 15.3% in the first quarter. California Public Employees Retirement System now owns 20,204 shares of the credit services provider’s stock worth $9,131,000 after acquiring an additional 2,677 shares in the last quarter. Institutional investors own 61.67% of the company’s stock.

Credit Acceptance Company Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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The Fly

Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

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