Janney Capital Upgrades Credit Acceptance Corp. to Neutral

Brokerage firm Janney Capital Upgrades its rating on Credit Acceptance Corp.(NASDAQ:CACC). The shares have been rated Neutral. The rating by Janney Capital was issued on Jun 20, 2016.

Credit Acceptance Corp. (CACC) shares turned negative on Fridays trading session with the shares closing down -5.24 points or -2.94% at a volume of 2,38,321. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $176.74. The peak price level was also seen at $176.74 while the days lowest was $170.1. Finally the shares closed at $172.77. The 52-week high of the shares is $277.9799 while the 52-week low is $159.43. According to the latest information available, the market cap of the company is $3,512 M.

Credit Acceptance Corp.(CACC) last announced its earnings results on May 2, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $227.90M. Analysts had an estimated revenue of $224.06M. Earnings per share were $4.02. Analysts had estimated an EPS of $3.81.

Several Insider Transactions has been reported to the SEC. On Apr 26, 2016, Jill Foss Watson (10% owner) sold 15,000 shares at $199.68 per share price.Also, On Mar 11, 2016, Donald A Foss (Chairman) sold 400 shares at $220.10 per share price.On Nov 20, 2015, Kenneth Booth (CFO) purchased 5,000 shares at $164.52 per share price, according to the Form-4 filing with the securities and exchange commission.

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).

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Credit Acceptance Corp. - Is it time to Sell?

Top Brokerage Firms are advising their investors on Credit Acceptance Corp.. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.