Brokerages Set Sonic Automotive, Inc. (NYSE:SAH) Price Target at $74.80

Sonic Automotive, Inc. (NYSE:SAH) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $74.80.

SAH has been the subject of several recent analyst reports. StockNews.com cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. JPMorgan Chase & Co. cut their price target on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Stephens lifted their price objective 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 cut their target price 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.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SAH. Vanguard Group Inc. increased its holdings in Sonic Automotive by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company’s stock worth $98,658,000 after purchasing an additional 20,058 shares in the last quarter. Millennium Management LLC increased its stake in shares of Sonic Automotive by 3.9% in the fourth quarter. Millennium Management LLC now owns 476,107 shares of the company’s stock valued at $30,161,000 after buying an additional 17,965 shares during the period. Northern Trust Corp raised its holdings in Sonic Automotive by 6.7% in the 4th quarter. Northern Trust Corp now owns 291,133 shares of the company’s stock valued at $18,443,000 after buying an additional 18,232 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Sonic Automotive by 12.4% during the 4th quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company’s stock worth $8,369,000 after buying an additional 14,600 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Sonic Automotive by 1.1% during the 4th quarter. Nuveen Asset Management LLC now owns 128,835 shares of the company’s stock worth $8,162,000 after acquiring an additional 1,386 shares during the last quarter. 46.92% of the stock is currently owned by institutional investors.

Sonic Automotive Stock Performance

NYSE SAH opened at $56.17 on Friday. The firm has a 50-day moving average price of $66.92 and a two-hundred day moving average price of $64.08. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $76.78. The company has a market capitalization of $1.89 billion, a P/E ratio of 9.09 and a beta of 1.43. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, beating 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 anticipate that Sonic Automotive will post 6.14 earnings per share for the current year.

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 2.49%. Sonic Automotive’s dividend payout ratio is currently 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.