Inspire Investing LLC Raises Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Inspire Investing LLC boosted its position in Sonic Automotive, Inc. (NYSE:SAH) by 8.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,036 shares of the company’s stock after acquiring an additional 561 shares during the quarter. Inspire Investing LLC’s holdings in Sonic Automotive were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Sonic Automotive in the 1st quarter valued at about $30,000. Innealta Capital LLC acquired a new position in Sonic Automotive during the second quarter valued at approximately $41,000. AM Squared Ltd purchased a new stake in Sonic Automotive during the second quarter worth approximately $82,000. Point72 DIFC Ltd raised its stake in shares of Sonic Automotive by 6.9% in the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after acquiring an additional 187 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Sonic Automotive in the 2nd quarter valued at $228,000. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

Shares of SAH opened at $56.67 on Friday. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 10.48 and a beta of 1.60. The company has a quick ratio of 0.36, a current ratio of 1.10 and a debt-to-equity ratio of 2.04. The business’s 50 day moving average is $57.95 and its two-hundred day moving average is $56.52. Sonic Automotive, Inc. has a 52-week low of $42.57 and a 52-week high of $64.68.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.09. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Sonic Automotive had a net margin of 1.35% and a return on equity of 25.31%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. Analysts forecast that Sonic Automotive, Inc. will post 5.67 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.12%. The ex-dividend date was Friday, September 13th. Sonic Automotive’s dividend payout ratio is currently 22.18%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SAH shares. JPMorgan Chase & Co. upped their price target on shares of Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Bank of America lowered their target price on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley raised Sonic Automotive from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $40.00 to $58.00 in a research report on Wednesday, September 25th. Needham & Company LLC started coverage on Sonic Automotive in a report on Tuesday, August 20th. They issued a “buy” rating and a $73.00 price target for the company. Finally, Stephens began coverage on shares of Sonic Automotive in a research note on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price objective on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Sonic Automotive presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

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.