Sonic Automotive (NYSE:SAH) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Sonic Automotive (NYSE:SAH) from a buy rating to a hold rating in a research note released on Monday.

Several other research analysts have also commented on SAH. JPMorgan Chase & Co. raised their price target on shares of Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Stephens raised their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC decreased their price target on shares of Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.80.

Sonic Automotive Trading Up 3.7 %

SAH stock opened at $63.13 on Monday. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 10.21 and a beta of 1.70. The business has a fifty day simple moving average of $68.83 and a 200-day simple moving average of $63.93. Sonic Automotive has a 52 week low of $47.82 and a 52 week high of $76.78.

Sonic Automotive (NYSE:SAH) last announced its quarterly 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%. On average, equities research analysts expect that Sonic Automotive will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.22%. Sonic Automotive’s dividend payout ratio is currently 22.65%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SAH. Barclays PLC lifted its holdings in Sonic Automotive by 346.1% in the 3rd quarter. Barclays PLC now owns 24,413 shares of the company’s stock worth $1,427,000 after buying an additional 18,940 shares in the last quarter. Intech Investment Management LLC increased its position 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 last quarter. New York State Common Retirement Fund lifted its stake in shares of Sonic Automotive by 54.4% in 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in Sonic Automotive by 68.6% in the third quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock valued at $3,113,000 after purchasing an additional 21,650 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Sonic Automotive during the 4th quarter valued at approximately $244,000. 46.92% of the stock is currently owned by hedge funds and other 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.