Sonic Automotive (NYSE:SAH) PT Raised to $74.00

Sonic Automotive (NYSE:SAH) had its price target increased by Needham & Company LLC from $73.00 to $74.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 30.12% from the stock’s previous close.

A number of other research analysts have also commented on SAH. Stephens assumed coverage on Sonic Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 target price for the company. Morgan Stanley upgraded shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $40.00 to $58.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on shares of Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Bank of America lowered their price objective on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Sonic Automotive presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Sonic Automotive Price Performance

NYSE:SAH opened at $56.87 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.10 and a quick ratio of 0.36. Sonic Automotive has a one year low of $46.33 and a one year high of $64.68. The company has a fifty day moving average price of $57.66 and a 200 day moving average price of $56.62. The stock has a market cap of $1.94 billion, a P/E ratio of 10.51 and a beta of 1.60.

Sonic Automotive (NYSE:SAH) last released its earnings results on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.17). The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.55 billion. Sonic Automotive had a net margin of 1.35% and a return on equity of 25.31%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.02 EPS. Analysts anticipate that Sonic Automotive will post 5.63 earnings per share for the current year.

Institutional Trading of Sonic Automotive

Several large investors have recently made changes to their positions in SAH. Allspring Global Investments Holdings LLC acquired a new position in Sonic Automotive during the 1st quarter worth about $30,000. Denali Advisors LLC boosted its position in Sonic Automotive by 32.0% in the 1st quarter. Denali Advisors LLC now owns 36,700 shares of the company’s stock valued at $2,090,000 after buying an additional 8,900 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Sonic Automotive in the 1st quarter valued at $515,000. Quantbot Technologies LP raised its position in shares of Sonic Automotive by 109.1% during the first quarter. Quantbot Technologies LP now owns 17,623 shares of the company’s stock worth $1,003,000 after acquiring an additional 9,193 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Sonic Automotive by 85.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,298 shares of the company’s stock valued at $451,000 after acquiring an additional 3,820 shares during the period. Institutional investors own 46.92% of the company’s stock.

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.