Brokerages Set Sonic Automotive, Inc. (NYSE:SAH) PT at $67.20

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been assigned a consensus rating of “Buy” from the six brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $78.00.

Several equities research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Stephens raised their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday.

Sonic Automotive Trading Down 0.0 %

SAH opened at $73.55 on Thursday. Sonic Automotive has a one year low of $47.82 and a one year high of $76.78. The business’s 50-day simple moving average is $68.03 and its 200-day simple moving average is $62.79. The company has a market cap of $2.51 billion, a P/E ratio of 13.09 and a beta of 1.68. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. As a group, equities research analysts expect that Sonic Automotive will post 5.54 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive’s payout ratio is 24.91%.

Hedge Funds Weigh In On Sonic Automotive

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in Sonic Automotive by 346.1% during the 3rd quarter. Barclays PLC now owns 24,413 shares of the company’s stock valued at $1,427,000 after purchasing an additional 18,940 shares in the last quarter. Intech Investment Management LLC increased its position in Sonic Automotive by 418.9% in the third quarter. Intech Investment Management LLC now owns 21,692 shares of the company’s stock worth $1,269,000 after buying an additional 17,512 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Sonic Automotive by 124.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company’s stock valued at $3,239,000 after purchasing an additional 30,731 shares during the period. JPMorgan Chase & Co. boosted its position 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 buying an additional 21,650 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Sonic Automotive during the third quarter valued at about $532,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

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.