Sonic Automotive (NYSE:SAH) Given New $92.00 Price Target at Stephens

Sonic Automotive (NYSE:SAH) had its price objective lifted by Stephens from $83.00 to $92.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC upped their target price on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday. Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $78.00.

Sonic Automotive Trading Up 2.3 %

Shares of SAH opened at $73.44 on Thursday. The stock’s 50-day moving average price is $67.90 and its 200 day moving average price is $62.64. 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 capitalization of $2.51 billion, a price-to-earnings ratio of 13.07 and a beta of 1.68. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $76.78.

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

Sonic Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 1.91%. Sonic Automotive’s dividend payout ratio (DPR) is 24.91%.

Hedge Funds Weigh In On Sonic Automotive

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