JPMorgan Chase & Co. Increases Sonic Automotive (NYSE:SAH) Price Target to $80.00

Sonic Automotive (NYSE:SAH) had its price target raised by investment analysts at JPMorgan Chase & Co. from $74.00 to $80.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.29% from the stock’s current price.

SAH has been the topic of several other research reports. StockNews.com raised Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Needham & Company LLC lifted their price objective on Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Finally, Stephens lifted their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sonic Automotive presently has an average rating of “Buy” and an average target price of $79.20.

Sonic Automotive Stock Performance

SAH opened at $72.54 on Wednesday. The firm has a market capitalization of $2.48 billion, a P/E ratio of 11.74 and a beta of 1.68. The stock’s 50 day moving average price is $68.50 and its two-hundred day moving average price is $63.18. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $76.78.

Sonic Automotive (NYSE:SAH) last released its earnings results 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 return on equity of 20.52% and a net margin of 1.52%. On average, equities analysts forecast that Sonic Automotive will post 6.16 earnings per share for the current year.

Hedge Funds Weigh In On Sonic Automotive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in shares of Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after buying an additional 402 shares during the period. Canada Pension Plan Investment Board bought a new position in Sonic Automotive in the 4th quarter valued at $51,000. R Squared Ltd bought a new position in Sonic Automotive in the 4th quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. raised its position in Sonic Automotive by 100.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after purchasing an additional 599 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its position in 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 valued at $98,000 after purchasing an additional 1,444 shares during the last quarter. Institutional investors 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.