Credit Acceptance (NASDAQ:CACC) Reaches New 12-Month Low at $448.84

Credit Acceptance Co. (NASDAQ:CACCGet Rating) hit a new 52-week low on Friday . The company traded as low as $448.84 and last traded at $454.72, with a volume of 835 shares changing hands. The stock had previously closed at $467.45.

Analysts Set New Price Targets

Separately, Credit Suisse Group decreased their price objective on Credit Acceptance from $460.00 to $440.00 and set an “underperform” rating on the stock in a report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $435.50.

Credit Acceptance Trading Down 2.7 %

The company has a market capitalization of $5.88 billion, a PE ratio of 8.44 and a beta of 1.36. The company has a current ratio of 15.39, a quick ratio of 15.39 and a debt-to-equity ratio of 3.01. The stock has a fifty day moving average of $540.70 and a two-hundred day moving average of $539.65.

Credit Acceptance (NASDAQ:CACCGet Rating) last announced its quarterly earnings results on Monday, August 1st. The credit services provider reported $7.94 EPS for the quarter, missing analysts’ consensus estimates of $12.14 by ($4.20). The company had revenue of $457.40 million during the quarter, compared to analysts’ expectations of $454.77 million. Credit Acceptance had a return on equity of 47.19% and a net margin of 42.75%. Credit Acceptance’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $13.71 earnings per share. As a group, sell-side analysts anticipate that Credit Acceptance Co. will post 54.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Credit Acceptance

A number of large investors have recently bought and sold shares of the stock. Gobi Capital LLC increased its stake in Credit Acceptance by 0.7% in the 1st quarter. Gobi Capital LLC now owns 502,371 shares of the credit services provider’s stock worth $276,490,000 after purchasing an additional 3,600 shares during the period. Cantillon Capital Management LLC increased its stake in shares of Credit Acceptance by 2.9% during the first quarter. Cantillon Capital Management LLC now owns 257,231 shares of the credit services provider’s stock valued at $141,572,000 after buying an additional 7,370 shares during the period. RV Capital GmbH increased its stake in shares of Credit Acceptance by 1.4% during the first quarter. RV Capital GmbH now owns 195,946 shares of the credit services provider’s stock valued at $107,843,000 after buying an additional 2,788 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Credit Acceptance by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 173,421 shares of the credit services provider’s stock valued at $95,443,000 after buying an additional 3,402 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Credit Acceptance by 0.4% during the first quarter. Hsbc Holdings PLC now owns 148,763 shares of the credit services provider’s stock valued at $81,572,000 after buying an additional 547 shares during the period. 63.11% of the stock is owned by hedge funds and other institutional investors.

About Credit Acceptance

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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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