Credit Acceptance (NASDAQ:CACC) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday.

Other equities research analysts also recently issued reports about the company. Susquehanna Bancshares increased their price target on Credit Acceptance from $350.00 to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. JMP Securities increased their price target on Credit Acceptance from $260.00 to $350.00 and gave the stock a “market underperform” rating in a research report on Thursday, August 2nd. BMO Capital Markets increased their price target on Credit Acceptance from $305.00 to $312.00 and gave the stock a “market perform” rating in a research report on Thursday, August 2nd. Oppenheimer set a $400.00 price target on Credit Acceptance and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Finally, Credit Suisse Group increased their price target on Credit Acceptance from $310.00 to $335.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 30th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Credit Acceptance presently has a consensus rating of “Hold” and an average price target of $357.71.

NASDAQ CACC opened at $422.10 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 36.75 and a current ratio of 36.75. Credit Acceptance has a 1 year low of $279.89 and a 1 year high of $467.26. The firm has a market capitalization of $7.94 billion, a P/E ratio of 20.65, a PEG ratio of 0.89 and a beta of 0.56.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Monday, October 29th. The credit services provider reported $7.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.90 by $0.85. Credit Acceptance had a return on equity of 28.83% and a net margin of 48.70%. The firm had revenue of $332.00 million for the quarter, compared to the consensus estimate of $327.45 million. During the same period in the prior year, the firm earned $5.43 EPS. The firm’s revenue was up 16.9% on a year-over-year basis. On average, analysts expect that Credit Acceptance will post 27.08 earnings per share for the current fiscal year.

In other news, insider Prescott General Partners Llc sold 2,039 shares of the stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $419.97, for a total transaction of $856,318.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Arthur L. Smith sold 2,000 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $460.98, for a total transaction of $921,960.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,018 shares of company stock worth $31,599,433. Corporate insiders own 5.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Credit Acceptance by 4.4% during the 2nd quarter. BlackRock Inc. now owns 509,990 shares of the credit services provider’s stock worth $180,231,000 after acquiring an additional 21,628 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Credit Acceptance by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 203,207 shares of the credit services provider’s stock valued at $89,021,000 after buying an additional 4,116 shares in the last quarter. AXA lifted its stake in Credit Acceptance by 481.8% in the 3rd quarter. AXA now owns 129,162 shares of the credit services provider’s stock valued at $56,582,000 after buying an additional 106,962 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Credit Acceptance by 4.3% in the 3rd quarter. Hsbc Holdings PLC now owns 115,287 shares of the credit services provider’s stock valued at $50,500,000 after buying an additional 4,743 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Credit Acceptance by 31.3% in the 3rd quarter. AQR Capital Management LLC now owns 109,837 shares of the credit services provider’s stock valued at $48,116,000 after buying an additional 26,181 shares in the last quarter. 67.61% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

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