Zacks Investment Research downgraded Credit Acceptance Corp. (NASDAQ:CACC) to Hold in a report released today.
- Updated: October 3, 2016
Zacks Investment Research has downgraded Credit Acceptance Corp. (NASDAQ:CACC) to Hold in a report released on 10/3/2016.
On 9/06/2016, Compass Point released a statement about Credit Acceptance Corp. (NASDAQ:CACC) upped the target price from $0.00 to $170.00 that suggested a downside of -0.15%.
Yesterday Credit Acceptance Corp. (NASDAQ:CACC) traded -4.26% lower at $192.50. CACC’s 50-day average is $198.47 and its two hundred day average is $189.13. With the last close up 1.78% relative to the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Volume of trade was up over the average, with 253,340 shares of CACC changing hands over the typical 223,959
Credit Acceptance Corp. has PE ratio of 12.73 with a one year low of $159.43 and a one year high of $258.58 and has a market capitalization of $0.
A total of 8 equity analysts have released a research note on the company. zero analysts rating the company a strong buy, 0 equity analysts rating the company a buy, 5 firms rating the stock a hold, three analysts rating the stock a underperform, and finally 1 brokerage rating the company a sell with a 12-month price target of $177.75.
General Information About Credit Acceptance Corp. (NASDAQ:CACC)
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. The Company has two programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, it advances money to dealer (Dealer Loan) in exchange for the right to service the underlying consumer loans. Under the Purchase Program, the Company buys the consumer loans from the dealer (Purchased Loan) and keeps all amounts collected from the consumer. Its target market is independent and franchised automobile dealers in the United States. It provides dealers the ability to offer vehicle service contracts to consumers through its relationships with third-party providers (TPPs).
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