Sonic Automotive (NYSE:SAH) Given New $65.00 Price Target at JPMorgan Chase & Co.

Sonic Automotive (NYSE:SAH) had its target price trimmed by JPMorgan Chase & Co. from $80.00 to $65.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

SAH has been the topic of a number of other research reports. Stephens boosted their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. StockNews.com cut Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Needham & Company LLC reduced their price target on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.80.

Sonic Automotive Trading Down 7.7 %

Shares of SAH opened at $57.09 on Thursday. Sonic Automotive has a 12 month low of $47.82 and a 12 month high of $76.78. The stock’s 50-day moving average is $68.40 and its two-hundred day moving average is $63.90. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The stock has a market cap of $1.93 billion, a PE ratio of 9.24 and a beta of 1.70.

Sonic Automotive (NYSE:SAH) last released 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%. Equities analysts forecast that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive’s payout ratio is currently 22.65%.

Institutional Investors Weigh In On Sonic Automotive

A number of institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in Sonic Automotive by 515.4% during the fourth 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 last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Sonic Automotive during the 4th quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. raised its stake in 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 during the period. R Squared Ltd bought a new position in Sonic Automotive in the fourth quarter worth about $72,000. Finally, Aster Capital Management DIFC Ltd boosted its stake in 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 during the period. 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.