Sonic Automotive, Inc. (NYSE:SAH – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $75.68 and last traded at $71.71, with a volume of 199844 shares trading hands. The stock had previously closed at $75.24.
Analysts Set New Price Targets
SAH has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Stephens raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $74.00 price target on shares of Sonic Automotive in a report on Thursday, January 16th. Finally, Bank of America cut their target price on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $67.20.
View Our Latest Report on Sonic Automotive
Sonic Automotive Trading Down 1.9 %
Hedge Funds Weigh In On Sonic Automotive
Several large investors have recently modified their holdings of SAH. Point72 Asia Singapore Pte. Ltd. lifted its position 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 purchasing an additional 599 shares during the last quarter. R Squared Ltd bought a new position in Sonic Automotive in the fourth quarter worth about $72,000. SG Americas Securities LLC bought a new position in Sonic Automotive in the fourth quarter worth about $244,000. MQS Management LLC bought a new position in Sonic Automotive in the third quarter worth about $394,000. Finally, Inspire Investing LLC lifted its holdings in Sonic Automotive by 8.7% in the third quarter. Inspire Investing LLC now owns 7,036 shares of the company’s stock worth $411,000 after acquiring an additional 561 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.
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