Sonic Automotive (NYSE:SAH) Price Target Raised to $92.00

Sonic Automotive (NYSE:SAH) had its target price raised by Stephens from $83.00 to $92.00 in a report published on Thursday morning,Benzinga reports. Stephens currently has an overweight rating on the stock.

SAH has been the subject of a number of other reports. Needham & Company LLC lifted their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Finally, StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $78.00.

Sonic Automotive Stock Down 0.0 %

Shares of NYSE: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 company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 13.09 and a beta of 1.68. The firm has a fifty day moving average price of $68.03 and a two-hundred day moving average price of $62.79.

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

Sonic Automotive Announces Dividend

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

Hedge Funds Weigh In On Sonic Automotive

A number of hedge funds have recently modified their holdings of the company. Pacific Global Investment Management Co. increased its position in shares of Sonic Automotive by 4.1% in the fourth quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock valued at $288,000 after acquiring an additional 179 shares during the period. New York State Teachers Retirement System increased its position in shares of Sonic Automotive by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company’s stock valued at $1,643,000 after acquiring an additional 212 shares during the period. American Century Companies Inc. increased its position in shares of Sonic Automotive by 1.9% in the fourth quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock valued at $1,305,000 after acquiring an additional 390 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Sonic Automotive by 515.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after acquiring an additional 402 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Sonic Automotive by 4.6% in the third quarter. Point72 Asset Management L.P. now owns 11,400 shares of the company’s stock valued at $667,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 46.92% of the company’s stock.

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.