Credit Acceptance (NASDAQ:CACC) Stock Price Target Cut by TD Cowen

Credit Acceptance (NASDAQ:CACC) had its price objective decreased by equities researchers at TD Cowen from $600.00 to $590.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the credit services provider’s stock. TD Cowen’s price target suggests a potential upside of 10.79% from the company’s current price.

Separately, Weiss Ratings raised shares of Credit Acceptance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $565.00.

Credit Acceptance Stock Performance

Shares of CACC stock opened at $532.55 on Tuesday. The company has a debt-to-equity ratio of 3.84, a quick ratio of 14.89 and a current ratio of 14.89. The company has a market capitalization of $5.57 billion, a P/E ratio of 11.71 and a beta of 1.40. The company’s 50 day moving average price is $577.75 and its two-hundred day moving average price is $556.48. Credit Acceptance has a 52 week low of $401.90 and a 52 week high of $668.86.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Tuesday, August 4th. The credit services provider reported $12.12 earnings per share for the quarter, missing the consensus estimate of $12.20 by ($0.08). Credit Acceptance had a net margin of 21.54% and a return on equity of 31.67%. The company had revenue of $415.00 million during the quarter, compared to analyst estimates of $588.07 million. During the same quarter last year, the company earned $10.05 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts expect that Credit Acceptance will post 47.8 earnings per share for the current fiscal year.

Institutional Trading of Credit Acceptance

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its holdings in Credit Acceptance by 590.0% during the first quarter. Parallel Advisors LLC now owns 69 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 59 shares during the last quarter. Altshuler Shaham Ltd increased its stake in Credit Acceptance by 37.3% in the 1st quarter. Altshuler Shaham Ltd now owns 70 shares of the credit services provider’s stock valued at $30,000 after buying an additional 19 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Credit Acceptance by 53.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 69 shares of the credit services provider’s stock valued at $31,000 after buying an additional 24 shares during the last quarter. Versant Capital Management Inc lifted its position in Credit Acceptance by 587.5% during the 2nd quarter. Versant Capital Management Inc now owns 55 shares of the credit services provider’s stock worth $35,000 after buying an additional 47 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Credit Acceptance during the 2nd quarter worth about $38,000. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Company Profile

Credit Acceptance Corporation (NASDAQ:CACC) is a specialty finance company that provides automobile financing to consumers, including borrowers who may have limited or impaired credit histories. The company primarily operates through an indirect lending model, partnering with automobile dealers who offer financing to their customers at the point of sale.

Credit Acceptance purchases or services retail installment contracts originated by participating dealers and provides dealers with financing programs, underwriting support, loan servicing, and related tools.