Sonic Automotive, Inc. (NYSE:SAH) Receives $66.50 Average Target Price from Analysts

Sonic Automotive, Inc. (NYSE:SAH) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $66.33.

Several equities analysts recently weighed in on SAH shares. Bank of America cut their price target on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Monday. Needham & Company LLC started coverage on shares of Sonic Automotive in a research note on Tuesday, August 20th. They issued a “buy” rating and a $73.00 price objective on the stock. Stephens initiated coverage on shares of Sonic Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 target price for the company. Morgan Stanley raised Sonic Automotive from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $40.00 to $58.00 in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th.

Hedge Funds Weigh In On Sonic Automotive

A number of large investors have recently bought and sold shares of SAH. Quadrature Capital Ltd acquired a new position in shares of Sonic Automotive during the 4th quarter worth approximately $1,724,000. Westwood Holdings Group Inc. raised its position in Sonic Automotive by 12.6% during the first quarter. Westwood Holdings Group Inc. now owns 630,450 shares of the company’s stock worth $35,898,000 after acquiring an additional 70,540 shares during the period. Victory Capital Management Inc. lifted its holdings in Sonic Automotive by 524.4% during the second quarter. Victory Capital Management Inc. now owns 100,602 shares of the company’s stock valued at $5,480,000 after purchasing an additional 84,489 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Sonic Automotive by 109.1% in the first quarter. Quantbot Technologies LP now owns 17,623 shares of the company’s stock valued at $1,003,000 after purchasing an additional 9,193 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Sonic Automotive by 3.8% during the second quarter. Millennium Management LLC now owns 456,588 shares of the company’s stock worth $24,870,000 after purchasing an additional 16,556 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Trading Up 0.0 %

NYSE:SAH opened at $56.78 on Friday. The company has a market capitalization of $1.94 billion, a P/E ratio of 10.50 and a beta of 1.60. The company has a current ratio of 1.10, a quick ratio of 0.36 and a debt-to-equity ratio of 2.04. Sonic Automotive has a 12 month low of $42.57 and a 12 month high of $64.68. The firm has a fifty day simple moving average of $58.01 and a 200-day simple moving average of $56.51.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $3.56 billion. Sonic Automotive had a return on equity of 25.31% and a net margin of 1.35%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 EPS. On average, equities research analysts anticipate that Sonic Automotive will post 5.67 earnings per share for the current year.

Sonic Automotive Announces Dividend

The firm also recently announced 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, September 13th. Sonic Automotive’s dividend payout ratio (DPR) is presently 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.