Stephens Issues Positive Forecast for Sonic Automotive (NYSE:SAH) Stock Price

Sonic Automotive (NYSE:SAH) had its price objective lifted by Stephens from $83.00 to $92.00 in a report published on Thursday,Benzinga reports. Stephens currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Wednesday. Needham & Company LLC increased their target price on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Seaport Res Ptn upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sonic Automotive has an average rating of “Buy” and a consensus target price of $78.00.

Sonic Automotive Price Performance

Shares of SAH stock opened at $73.44 on Thursday. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 13.07 and a beta of 1.68. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $76.78. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The firm has a fifty day moving average of $67.90 and a 200-day moving average of $62.64.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. On average, equities research analysts forecast that Sonic Automotive will post 5.54 earnings per share for the current year.

Sonic Automotive Announces Dividend

The business also recently declared 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 is Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 1.91%. Sonic Automotive’s dividend payout ratio is currently 24.91%.

Institutional Investors Weigh In On Sonic Automotive

Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Sonic Automotive during the fourth quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after buying an additional 599 shares in the last quarter. R Squared Ltd bought a new stake in shares of Sonic Automotive in the fourth quarter valued at about $72,000. Finally, Aster Capital Management DIFC Ltd grew its stake in shares of Sonic Automotive by 1,429.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock valued at $98,000 after acquiring an additional 1,444 shares in the last quarter. 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.