Credit Acceptance Corporation (NASDAQ:CACC) has a beta value of 1.24 and has seen 0.34 million shares traded in the last trading session. The company, currently valued at $10.34B, closed the last trade at $670.31 per share which meant it gained $10.31 on the day or 1.56% during that session. The CACC stock price is 0.31% off its 52-week high price of $668.24 and 60.21% above the 52-week low of $266.74. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.21 million shares traded. The 3-month trading volume is 129.11K shares.
The consensus among analysts is that Credit Acceptance Corporation (CACC) is an Underweight stock at the moment, with a recommendation rating of 3.30. 2 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 6 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $10.36.
Credit Acceptance Corporation (NASDAQ:CACC) trade information
Sporting 1.56% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, 09/03/21 when the CACC stock price touched $670.31 or saw a rise of 0.12%. Year-to-date, Credit Acceptance Corporation shares have moved 93.65%, while the 5-day performance has seen it change 15.74%. Over the past 30 days, the shares of Credit Acceptance Corporation (NASDAQ:CACC) have changed 23.20%. Short interest in the company has seen 1.87 million shares shorted with days to cover at 20.72.
Wall Street analysts have a consensus price target for the stock at $395.67, which means that the shares’ value could drop -69.41% from current levels. The projected low price target is $295.00 while the price target rests at a high of $470.00. In that case, then, we find that the current price level is 29.88% off the targeted high while a plunge would see the stock lose 55.99% from current levels.
Credit Acceptance Corporation (CACC) estimates and forecasts
Figures show that Credit Acceptance Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained 57.44% over the past 6 months, with this year growth rate of 120.54%, compared to 5.00% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 91.90% and -13.90% for the next quarter. Revenue growth from the last financial year stood is estimated to be 10.20%.
6 analysts offering their estimates for the company have set an average revenue estimate of $471.7 million for the current quarter. 6 have an estimated revenue figure of $459.87 million for the next quarter concluding in Sep 2021. Year-ago sales stood $406.3 million and $415.56 million respectively for this quarter and the next, and analysts expect sales will grow by 16.10% for the current quarter and 10.70% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 10.40% over the past 5 years. Earnings growth for 2021 is a modest -32.10% while over the next 5 years, the company’s earnings are expected to increase by 20.03%.
Credit Acceptance Corporation is expected to release its next earnings report between October 27 and November 01 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Credit Acceptance Corporation (NASDAQ:CACC)’s Major holders
Insiders own 30.00% of the company shares, while shares held by institutions stand at 75.18% with a share float percentage of 107.41%. Investors are also buoyed by the number of investors in a company, with Credit Acceptance Corporation having a total of 280 institutions that hold shares in the company. The top two institutional holders are Prescott General Partners LLC with over 1.74 million shares worth more than $626.35 million. As of Mar 30, 2021, Prescott General Partners LLC held 10.60% of shares outstanding.
The other major institutional holder is Ruane, Cunniff & Goldfarb L.P., with the holding of over 1.62 million shares as of Mar 30, 2021. The firm’s total holdings are worth over $583.85 million and represent 9.88% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Principal Mid Cap Fund and Sequoia Fund Inc. As of Jan 30, 2021, the former fund manager holds about 4.93% shares in the company for having 0.81 million shares of worth $311.79 million while later fund manager owns 0.57 million shares of worth $205.04 million as of Mar 30, 2021, which makes it owner of about 3.47% of company’s outstanding stock.