Sonic Automotive, Inc. (NYSE:SAH) Receives Average Rating of “Hold” from Brokerages

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been given an average recommendation of “Hold” by the ten brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $79.6250.

SAH has been the topic of a number of research reports. Zacks Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Wall Street Zen cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sonic Automotive in a report on Monday, December 29th. Needham & Company LLC decreased their price target on Sonic Automotive from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Finally, Citigroup upgraded Sonic Automotive from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Thursday, November 6th.

Hedge Funds Weigh In On Sonic Automotive

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in Sonic Automotive by 37.1% in the first quarter. Royal Bank of Canada now owns 13,946 shares of the company’s stock worth $795,000 after acquiring an additional 3,777 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Sonic Automotive by 13.6% in the first quarter. AQR Capital Management LLC now owns 23,310 shares of the company’s stock valued at $1,328,000 after buying an additional 2,793 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Sonic Automotive by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,853 shares of the company’s stock valued at $504,000 after buying an additional 483 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Sonic Automotive by 124.9% during the first quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company’s stock valued at $20,239,000 after buying an additional 197,336 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Sonic Automotive by 15.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,698 shares of the company’s stock worth $2,204,000 after purchasing an additional 5,286 shares during the last quarter. 46.92% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive Stock Performance

Shares of NYSE SAH opened at $60.37 on Thursday. Sonic Automotive has a one year low of $52.00 and a one year high of $89.62. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 16.32 and a beta of 0.93. The stock’s fifty day moving average price is $63.36 and its two-hundred day moving average price is $70.13. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.02 and a quick ratio of 0.27.

Sonic Automotive Company Profile

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.