Sonic Automotive, Inc. (NYSE:SAH) Receives Average Recommendation of “Buy” from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been given an average rating of “Buy” by the six brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $79.20.

Several brokerages have recently issued reports on SAH. Needham & Company LLC lifted their target price on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Seaport Res Ptn upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Stephens boosted their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on shares of Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th.

Sonic Automotive Stock Down 2.2 %

Shares of NYSE SAH opened at $72.46 on Thursday. The company’s 50-day simple moving average is $68.40 and its 200-day simple moving average is $63.12. Sonic Automotive has a 52-week low of $47.82 and a 52-week high of $76.78. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 11.72 and a beta of 1.68. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 20.52%. Equities analysts predict that Sonic Automotive will post 6.16 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 1.93%. Sonic Automotive’s payout ratio is 22.65%.

Hedge Funds Weigh In On Sonic Automotive

Institutional investors and hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after purchasing an additional 402 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Sonic Automotive in the 4th quarter valued at about $51,000. R Squared Ltd acquired a new position in Sonic Automotive in the 4th quarter valued at about $72,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Sonic Automotive by 100.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after purchasing an additional 599 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its holdings in Sonic Automotive by 1,429.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock valued at $98,000 after purchasing an additional 1,444 shares during the last quarter. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products for its guests.