StockNews.com Downgrades Sonic Automotive (NYSE:SAH) to Hold

StockNews.com downgraded shares of Sonic Automotive (NYSE:SAH) from a buy rating to a hold rating in a research note released on Monday morning.

SAH has been the topic of a number of other reports. Stephens increased 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. JPMorgan Chase & Co. upped their price objective on Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC cut their target price on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.80.

Sonic Automotive Stock Performance

Sonic Automotive stock opened at $63.13 on Monday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. Sonic Automotive has a 12 month low of $47.82 and a 12 month high of $76.78. The company has a fifty day moving average price of $68.83 and a two-hundred day moving average price of $63.93. The company has a market cap of $2.13 billion, a PE ratio of 10.21 and a beta of 1.70.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share 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%. Research analysts expect that Sonic Automotive will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio is currently 22.65%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its stake 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 valued at $30,000 after purchasing an additional 402 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Sonic Automotive during the 4th quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. increased its stake 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 valued at $70,000 after buying an additional 599 shares during the period. R Squared Ltd bought a new stake in shares of Sonic Automotive during the 4th quarter worth about $72,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of Sonic Automotive by 1,429.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock worth $98,000 after acquiring an additional 1,444 shares during the period. Institutional investors and hedge funds 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.