Sonic Automotive (NYSE:SAH) Sets New 12-Month High – Time to Buy?

Shares of Sonic Automotive, Inc. (NYSE:SAH) reached a new 52-week high during trading on Tuesday . The stock traded as high as $72.67 and last traded at $72.53, with a volume of 166070 shares traded. The stock had previously closed at $71.10.

Analyst Ratings Changes

Several analysts have recently commented on SAH shares. Bank of America reduced their target price on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. reduced their price objective on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $74.00 price objective on shares of Sonic Automotive in a research note on Thursday, January 16th. Finally, Seaport Res Ptn upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sonic Automotive currently has a consensus rating of “Moderate Buy” and an average target price of $67.20.

Sonic Automotive Price Performance

The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11. The company’s fifty day simple moving average is $66.26 and its two-hundred day simple moving average is $61.20. The stock has a market capitalization of $2.48 billion, a PE ratio of 12.91 and a beta of 1.67.

Hedge Funds Weigh In On Sonic Automotive

Several hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd increased its holdings in Sonic Automotive by 6.9% during the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after acquiring an additional 187 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Sonic Automotive by 4.6% during the third quarter. Point72 Asset Management L.P. now owns 11,400 shares of the company’s stock worth $667,000 after buying an additional 500 shares in the last quarter. Inspire Investing LLC grew its holdings 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 buying an additional 561 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after buying an additional 599 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Sonic Automotive by 6.7% during the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company’s stock worth $530,000 after buying an additional 609 shares in the last quarter. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

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.