Sonic Automotive (NYSE:SAH) Price Target Cut to $65.00 by Analysts at JPMorgan Chase & Co.

Sonic Automotive (NYSE:SAH) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $80.00 to $65.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 11.23% from the stock’s current price.

A number of other analysts have also commented on the stock. StockNews.com lowered shares of Sonic Automotive from a “buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC decreased their price objective on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Finally, Stephens increased their target price on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.80.

Sonic Automotive Trading Down 5.5 %

Shares of SAH stock traded down $3.39 on Thursday, reaching $58.44. 76,418 shares of the stock were exchanged, compared to its average volume of 202,936. 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 has a one year low of $47.82 and a one year high of $76.78. The stock has a market cap of $1.97 billion, a PE ratio of 9.49 and a beta of 1.70. The stock has a 50 day moving average price of $68.62 and a 200 day moving average price of $63.95.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share 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%. Equities research analysts forecast that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Sonic Automotive

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its position in shares of 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 period. Canada Pension Plan Investment Board acquired a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. increased its position 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 acquiring an additional 599 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Sonic Automotive during the fourth quarter worth $72,000. Finally, Aster Capital Management DIFC Ltd lifted its position 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 acquiring an additional 1,444 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors.

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.