Analysts Set Sonic Automotive, Inc. (NYSE:SAH) Target Price at $79.20

Shares of Sonic Automotive, Inc. (NYSE:SAH) have received a consensus recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $79.20.

SAH has been the subject of a number of recent research reports. Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Stephens lifted their price target on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Needham & Company LLC increased their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased 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.

Institutional Investors Weigh In On Sonic Automotive

Hedge funds and other institutional investors have recently made changes to their positions in the business. Phocas Financial Corp. grew its position in shares of Sonic Automotive by 86.6% during the 4th quarter. Phocas Financial Corp. now owns 116,343 shares of the company’s stock valued at $7,370,000 after acquiring an additional 54,008 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Sonic Automotive by 6.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,412 shares of the company’s stock valued at $2,117,000 after purchasing an additional 1,911 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in Sonic Automotive by 110.9% during the fourth quarter. Voloridge Investment Management LLC now owns 69,766 shares of the company’s stock valued at $4,420,000 after purchasing an additional 36,691 shares during the period. Squarepoint Ops LLC increased its position in Sonic Automotive by 93.1% in the fourth quarter. Squarepoint Ops LLC now owns 20,010 shares of the company’s stock worth $1,268,000 after buying an additional 9,646 shares in the last quarter. Finally, Wexford Capital LP bought a new position in shares of Sonic Automotive in the fourth quarter worth about $465,000. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Sonic Automotive Trading Down 1.7 %

SAH opened at $64.23 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. Sonic Automotive has a 52 week low of $47.82 and a 52 week high of $76.78. The stock has a market cap of $2.17 billion, a PE ratio of 10.39 and a beta of 1.70. The business has a 50 day moving average of $69.36 and a 200-day moving average of $63.96.

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 analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. Equities research analysts predict that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio is 22.65%.

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.