Sonic Automotive, Inc. (NYSE:SAH) Given Average Recommendation of “Buy” by Brokerages

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $79.20.

Several equities research analysts have commented on SAH shares. Stephens boosted their target price on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Needham & Company LLC boosted their target price on Sonic Automotive from $74.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com raised Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th.

Sonic Automotive Trading Down 0.2 %

NYSE:SAH opened at $66.56 on Monday. Sonic Automotive has a fifty-two week low of $47.82 and a fifty-two week high of $76.78. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The stock has a market capitalization of $2.24 billion, a PE ratio of 10.77 and a beta of 1.70. The business’s 50-day simple moving average is $69.25 and its 200-day simple moving average is $63.90.

Sonic Automotive (NYSE:SAH) last released its earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. Sell-side analysts expect that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio (DPR) is 22.65%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SAH. Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 402 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Sonic Automotive during the 4th quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Sonic Automotive by 100.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after acquiring an additional 599 shares during the last quarter. R Squared Ltd acquired a new position in shares of Sonic Automotive during the 4th quarter worth approximately $72,000. Finally, Aster Capital Management DIFC Ltd increased its holdings in shares of Sonic Automotive by 1,429.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock worth $98,000 after acquiring an additional 1,444 shares during the last quarter. Institutional investors and hedge funds 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.