Sonic Automotive, Inc. (NYSE:SAH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $67.20.

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut 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 Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Bank of America dropped their price objective on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $74.00 price target on shares of Sonic Automotive in a research report on Thursday, January 16th.

Institutional Investors Weigh In On Sonic Automotive

A number of hedge funds have recently made changes to their positions in SAH. Point72 Asia Singapore Pte. Ltd. increased its position in Sonic Automotive by 100.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after purchasing an additional 599 shares in the last quarter. R Squared Ltd acquired a new position in shares of Sonic Automotive during the fourth quarter worth $72,000. Point72 DIFC Ltd lifted 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 last quarter. Intech Investment Management LLC acquired a new stake in shares of Sonic Automotive during the 2nd quarter valued at $228,000. Finally, SG Americas Securities LLC bought a new stake in Sonic Automotive during the 4th quarter worth $244,000. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Price Performance

Shares of NYSE SAH opened at $69.16 on Friday. The business’s 50 day moving average is $65.93 and its 200-day moving average is $60.82. The firm has a market cap of $2.36 billion, a P/E ratio of 12.31 and a beta of 1.67. Sonic Automotive has a 1-year low of $47.82 and a 1-year high of $70.88. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.17). Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the prior year, the business posted $2.02 EPS. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts predict that Sonic Automotive will post 5.61 earnings per share for the current year.

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.