Credit Acceptance Corp. (NASDAQ:CACC) shares dropped 3.3% during mid-day trading on Wednesday . The company traded as low as $180.57 and last traded at $182.69, with a volume of 200,085 shares traded. The stock had previously closed at $188.92.

A number of analysts have recently weighed in on the stock. Macquarie downgraded shares of Credit Acceptance Corp. from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $190.00 to $150.00 in a report on Wednesday, May 11th. Credit Suisse Group AG downgraded shares of Credit Acceptance Corp. from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $200.00 to $185.00 in a report on Wednesday. BMO Capital Markets reaffirmed a “hold” rating on shares of Credit Acceptance Corp. in a report on Tuesday, May 3rd. Zacks Investment Research raised shares of Credit Acceptance Corp. from a “hold” rating to a “buy” rating and set a $216.00 price target for the company in a report on Thursday, July 14th. Finally, Janney Montgomery Scott raised shares of Credit Acceptance Corp. from a “sell” rating to a “neutral” rating and set a $173.00 price target for the company in a report on Monday, June 20th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $176.65.

The company has a market capitalization of $3.81 billion and a price-to-earnings ratio of 12.85. The company’s 50-day moving average is $182.07 and its 200 day moving average is $186.23.

Credit Acceptance Corp. (NASDAQ:CACC) last announced its quarterly earnings data on Monday, May 2nd. The company reported $4.02 EPS for the quarter, topping the consensus estimate of $3.81 by $0.21. On average, analysts expect that Credit Acceptance Corp. will post $15.84 earnings per share for the current year.

Other institutional investors have bought and sold shares of the company. Wells Fargo & Company MN increased its position 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 during the last quarter. California Public Employees Retirement System increased its position 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 during the last quarter. Finally, Rhumbline Advisers increased its position 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 during 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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