Sonic Automotive, Inc. (NYSE:SAH) Receives $79.20 Average PT from Analysts

Sonic Automotive, Inc. (NYSE:SAH) has earned an average rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $79.20.

A number of brokerages have issued reports on SAH. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Needham & Company LLC lifted their price objective on Sonic Automotive from $74.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. StockNews.com raised Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, Stephens lifted their price target on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, February 13th.

Institutional Trading of Sonic Automotive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Sonic Automotive by 346.1% during the third quarter. Barclays PLC now owns 24,413 shares of the company’s stock worth $1,427,000 after purchasing an additional 18,940 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Sonic Automotive by 418.9% during the third quarter. Intech Investment Management LLC now owns 21,692 shares of the company’s stock worth $1,269,000 after acquiring an additional 17,512 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Sonic Automotive by 54.4% during the fourth quarter. New York State Common Retirement Fund now owns 45,000 shares of the company’s stock worth $2,851,000 after acquiring an additional 15,849 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Sonic Automotive by 68.6% during the third quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock worth $3,113,000 after acquiring an additional 21,650 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Sonic Automotive during the fourth quarter worth $244,000. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Stock Down 1.3 %

Shares of SAH stock opened at $58.87 on Monday. The stock has a market cap of $1.99 billion, a P/E ratio of 9.53 and a beta of 1.70. Sonic Automotive has a one year low of $47.82 and a one year high of $76.78. The stock has a fifty day moving average price of $69.23 and a 200 day moving average price of $63.93. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. Analysts predict that Sonic Automotive will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.35 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a yield of 2.38%. Sonic Automotive’s payout ratio is 22.65%.

About Sonic Automotive

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.