Credit Acceptance Corp. (NASDAQ:CACC) shares rose 2.1% on Friday . The company traded as high as $198.64 and last traded at $197.34, with a volume of 69,200 shares trading hands. The stock had previously closed at $193.33.

CACC has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Credit Acceptance Corp. from a “hold” rating to a “buy” rating and set a $198.00 target price on the stock in a research note on Friday, May 20th. BMO Capital Markets reiterated a “hold” rating on shares of Credit Acceptance Corp. in a research note on Tuesday, May 3rd. Janney Montgomery Scott upgraded shares of Credit Acceptance Corp. from a “sell” rating to a “neutral” rating and set a $173.00 price target on the stock in a research note on Monday, June 20th. Finally, Macquarie cut shares of Credit Acceptance Corp. from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $190.00 to $150.00 in a research note on Wednesday, May 11th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Credit Acceptance Corp. currently has an average rating of “Hold” and an average price target of $184.15.

The company’s 50-day moving average is $179.96 and its 200 day moving average is $187.44. The stock has a market cap of $4.05 billion and a P/E ratio of 13.65.

Credit Acceptance Corp. (NASDAQ:CACC) last released its quarterly earnings results on Monday, May 2nd. The company reported $4.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.81 by $0.21. Analysts predict that Credit Acceptance Corp. will post $15.84 earnings per share for the current fiscal year.

In related news, major shareholder Jill Foss Watson sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $201.29, for a total transaction of $3,019,350.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Other hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Credit Acceptance Corp. by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 50,670 shares of the company’s stock valued at $10,845,000 after buying an additional 2,749 shares in the last quarter. California Public Employees Retirement System raised its stake in Credit Acceptance Corp. by 1.3% in the fourth quarter. California Public Employees Retirement System now owns 23,297 shares of the company’s stock valued at $4,986,000 after buying an additional 300 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Credit Acceptance Corp. by 3.1% in the fourth quarter. Rhumbline Advisers now owns 10,778 shares of the company’s stock valued at $2,307,000 after buying an additional 326 shares in the last quarter.

Credit Acceptance Corporation (Credit Acceptance) is a provider of financing programs to automobile dealers that enable them to sell vehicles to consumers. The Company’s financing programs are offered through a nationwide network of automobile dealers; from repeat and referral sales generated by customers, and from sales to customers responding to advertisements for it products.

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