Sonic Automotive (NYSE:SAH) Price Target Lowered to $65.00 at JPMorgan Chase & Co.

Sonic Automotive (NYSE:SAH) had its price objective lowered by JPMorgan Chase & Co. from $80.00 to $65.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 18.34% from the company’s current price.

A number of other brokerages also recently issued reports on SAH. Needham & Company LLC reduced their price target on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. StockNews.com downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Stephens raised 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. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.80.

Sonic Automotive Stock Down 3.2 %

SAH opened at $54.93 on Thursday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. The stock has a fifty day moving average of $68.13 and a 200-day moving average of $63.89. Sonic Automotive has a fifty-two week low of $47.82 and a fifty-two week high of $76.78. The company has a market capitalization of $1.85 billion, a P/E ratio of 8.89 and a beta of 1.70.

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, 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%. On average, equities analysts expect that Sonic Automotive will post 6.14 EPS for the current year.

Hedge Funds Weigh In On Sonic Automotive

A number of institutional investors have recently modified their holdings of the business. Pacific Global Investment Management Co. lifted its stake in shares of Sonic Automotive by 4.1% in the 4th 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 last quarter. New York State Teachers Retirement System increased its holdings in Sonic Automotive by 0.8% in the 4th quarter. New York State Teachers Retirement System now owns 25,935 shares of the company’s stock worth $1,643,000 after purchasing an additional 212 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sonic Automotive by 4.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,370 shares of the company’s stock valued at $530,000 after purchasing an additional 380 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Sonic Automotive by 1.9% during the fourth quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock valued at $1,305,000 after purchasing an additional 390 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Institutional investors and hedge funds 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.