Sonic Automotive, Inc. (NYSE:SAH) Position Increased by Inspire Investing LLC

Inspire Investing LLC lifted its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 8.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,036 shares of the company’s stock after buying 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 SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SAH. Allspring Global Investments Holdings LLC acquired a new stake in Sonic Automotive during the first quarter worth about $30,000. Innealta Capital LLC acquired a new position in Sonic Automotive during the 2nd quarter valued at approximately $41,000. AM Squared Ltd bought a new position in Sonic Automotive during the 2nd quarter worth $82,000. Point72 DIFC Ltd increased its position in Sonic Automotive by 6.9% in the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock worth $158,000 after buying an additional 187 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Sonic Automotive in the second quarter valued at $228,000. 46.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Needham & Company LLC assumed coverage on shares of Sonic Automotive in a research report on Tuesday, August 20th. They set a “buy” rating and a $73.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Bank of America reduced their price objective on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Stephens began coverage on Sonic Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 target price on the stock. Finally, Morgan Stanley upgraded 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Sonic Automotive presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

Sonic Automotive Stock Performance

SAH opened at $56.67 on Friday. The business has a 50 day moving average price of $57.95 and a two-hundred day moving average price of $56.52. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.10 and a quick ratio of 0.36. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 10.48 and a beta of 1.60. Sonic Automotive, Inc. has a 1-year low of $42.57 and a 1-year high of $64.68.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Monday, August 5th. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.09. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.56 billion. Sonic Automotive had a return on equity of 25.31% and a net margin of 1.35%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 EPS. Research analysts predict that Sonic Automotive, Inc. will post 5.67 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were given a dividend of $0.30 per share. The ex-dividend date was Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.12%. Sonic Automotive’s dividend payout ratio (DPR) is 22.18%.

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.