Sonic Automotive (NYSE:SAH) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Sonic Automotive (NYSE:SAH) from a hold rating to a buy rating in a report issued on Wednesday morning.

A number of other equities research analysts also recently issued reports on the company. Stephens upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $74.00 target price on shares of Sonic Automotive in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $78.00.

Sonic Automotive Stock Down 0.0 %

Shares of Sonic Automotive stock opened at $73.55 on Wednesday. Sonic Automotive has a twelve month low of $47.82 and a twelve month high of $76.78. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The company’s 50 day moving average is $68.03 and its 200 day moving average is $62.76. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 13.09 and a beta of 1.68.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. Research analysts anticipate that Sonic Automotive will post 5.54 EPS for the current year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive’s dividend payout ratio is currently 24.91%.

Institutional Investors Weigh In On Sonic Automotive

A number of institutional investors and hedge funds have recently bought and sold shares of SAH. Inspire Investing LLC grew its position in shares of Sonic Automotive by 8.7% during the third quarter. Inspire Investing LLC now owns 7,036 shares of the company’s stock worth $411,000 after purchasing an additional 561 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Sonic Automotive during the 3rd quarter valued at approximately $1,244,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Sonic Automotive during the third quarter valued at approximately $532,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Sonic Automotive by 124.7% in the third quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company’s stock worth $3,239,000 after buying an additional 30,731 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Sonic Automotive by 163.7% during the third quarter. GSA Capital Partners LLP now owns 32,235 shares of the company’s stock worth $1,885,000 after acquiring an additional 20,010 shares during the last quarter. 46.92% of the stock is owned by institutional investors.

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.