Credit Acceptance (CACC) Gets a Hold Rating from Jefferies

Jefferies analyst John Hecht maintained a Hold rating on Credit Acceptance (CACCResearch Report) on July 12 and set a price target of $540.00. The company’s shares closed last Thursday at $554.28.

According to TipRanks.com, Hecht is a 5-star analyst with an average return of 9.7% and a 60.0% success rate. Hecht covers the Financial sector, focusing on stocks such as Discover Financial Services, Bread Financial Holdings, and Capital One Financial.

Currently, the analyst consensus on Credit Acceptance is a Moderate Sell with an average price target of $500.00.

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Based on Credit Acceptance’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $456 million and net profit of $214 million. In comparison, last year the company earned revenue of $451 million and had a net profit of $202 million.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CACC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Credit Acceptance Corp. engages in the provision of dealer financing programs that enables automobile dealers to sell vehicles to consumers, regardless of its credit history. Its financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers. The company was founded by Donald A. Foss in 1972 and is headquartered in Southfield, MI.

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