Sonic Automotive (NYSE:SAH) Price Target Raised to $92.00

Sonic Automotive (NYSE:SAH) had its price target increased by equities research analysts at Stephens from $83.00 to $92.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ price objective would indicate a potential upside of 24.22% from the company’s current price.

SAH has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their price target 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 raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Needham & Company LLC boosted their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sonic Automotive presently has a consensus rating of “Buy” and a consensus target price of $78.00.

Sonic Automotive Stock Performance

SAH stock traded up $2.27 during trading on Thursday, hitting $74.06. The company had a trading volume of 71,989 shares, compared to its average volume of 184,654. Sonic Automotive has a 1-year low of $47.82 and a 1-year high of $76.78. The firm has a 50-day moving average price of $67.79 and a 200-day moving average price of $62.56. 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 firm has a market cap of $2.53 billion, a PE ratio of 13.18 and a beta of 1.68.

Sonic Automotive (NYSE:SAH) last announced its 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 net margin of 1.41% and a return on equity of 21.27%. On average, analysts expect that Sonic Automotive will post 5.54 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Inspire Investing LLC boosted 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 purchasing an additional 561 shares during the period. Assenagon Asset Management S.A. bought a new position in Sonic Automotive in the third quarter worth about $1,244,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Sonic Automotive during the third quarter valued at approximately $532,000. Harbor Capital Advisors Inc. grew its holdings in Sonic Automotive by 124.7% in the 3rd 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 grew its position in Sonic Automotive by 163.7% in the third quarter. GSA Capital Partners LLP now owns 32,235 shares of the company’s stock worth $1,885,000 after buying an additional 20,010 shares during the last quarter. Institutional investors own 46.92% of the company’s stock.

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.