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

Sonic Automotive, Inc. (NYSE:SAH) has earned a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $79.20.

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. 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 report on Thursday, February 13th. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Stephens boosted their target price on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th.

Sonic Automotive Price Performance

NYSE:SAH opened at $64.23 on Monday. The business’s 50-day simple moving average is $69.36 and its two-hundred day simple moving average is $63.96. 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 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 (NYSE:SAH) last issued its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. As a group, analysts forecast that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 2.18%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio (DPR) is 22.65%.

Institutional Trading of Sonic Automotive

Several hedge funds and other institutional investors have recently bought and sold shares of SAH. Smartleaf Asset Management LLC lifted its stake in shares of Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after acquiring an additional 402 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Sonic Automotive in the fourth quarter worth about $51,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Sonic Automotive by 100.3% in the third 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 during the last quarter. R Squared Ltd purchased a new position in Sonic Automotive in the 4th quarter worth about $72,000. Finally, Aster Capital Management DIFC Ltd lifted its holdings in Sonic Automotive by 1,429.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock valued at $98,000 after buying an additional 1,444 shares in the last quarter. Hedge funds and other institutional investors own 46.92% of the company’s stock.

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.