BTIG Research Reiterates Sell Rating for Credit Acceptance (NASDAQ:CACC)

Credit Acceptance (NASDAQ:CACC)‘s stock had its “sell” rating reissued by equities researchers at BTIG Research in a report issued on Wednesday, AnalystRatings.com reports. They presently have a $340.00 price objective on the credit services provider’s stock. BTIG Research’s price objective points to a potential downside of 30.18% from the company’s previous close.

Several other equities research analysts also recently issued reports on CACC. Stephens reiterated a “hold” rating and issued a $110.00 price objective on shares of Twilio in a report on Tuesday, April 30th. Credit Suisse Group reiterated an “outperform” rating and issued a $145.00 price objective (down previously from $158.00) on shares of Ralph Lauren in a report on Wednesday. BidaskClub upgraded Winmark from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Finally, Zacks Investment Research downgraded Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $412.67.

NASDAQ:CACC opened at $486.95 on Wednesday. Credit Acceptance has a 52 week low of $356.12 and a 52 week high of $509.99. The company has a debt-to-equity ratio of 2.07, a current ratio of 31.27 and a quick ratio of 31.27. The stock has a market capitalization of $9.26 billion, a P/E ratio of 17.15, a P/E/G ratio of 0.90 and a beta of 0.77. The company has a fifty day simple moving average of $485.19.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Monday, April 29th. The credit services provider reported $8.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $7.93 by $0.15. The firm had revenue of $342.80 million for the quarter, compared to the consensus estimate of $350.35 million. Credit Acceptance had a return on equity of 30.17% and a net margin of 46.00%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.11 EPS. Equities analysts expect that Credit Acceptance will post 34.22 EPS for the current year.

Several hedge funds have recently bought and sold shares of CACC. Wasatch Advisors Inc. boosted its position in shares of Credit Acceptance by 1.9% during the 1st 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. Geode Capital Management LLC boosted its position in shares of Credit Acceptance by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 138,652 shares of the credit services provider’s stock valued at $52,931,000 after purchasing an additional 9,406 shares during the period. Norges Bank acquired a new stake in shares of Credit Acceptance in the 4th quarter valued at about $42,095,000. Deutsche Bank AG boosted its position in shares of Credit Acceptance by 684.6% in the 4th quarter. Deutsche Bank AG now owns 29,038 shares of the credit services provider’s stock valued at $11,084,000 after purchasing an additional 25,337 shares during the period. Finally, Swiss National Bank boosted its position in shares of Credit Acceptance by 2.9% in the 1st quarter. Swiss National Bank now owns 21,077 shares of the credit services provider’s stock valued at $9,525,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 61.70% 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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Analyst Recommendations for Credit Acceptance (NASDAQ:CACC)

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