Brokerages Set Sonic Automotive, Inc. (NYSE:SAH) PT at $69.83

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $69.83.

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of Sonic Automotive from a "hold" rating to a "buy" rating in a report on Friday. JPMorgan Chase & Co. lowered their price objective on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Stephens lifted their target price on Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Needham & Company LLC lowered their price target on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Citigroup began coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price objective on the stock.

Institutional Trading of Sonic Automotive

A number of institutional investors have recently bought and sold shares of the business. Pacific Global Investment Management Co. raised its stake in Sonic Automotive by 4.1% during the 4th quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company's stock valued at $288,000 after acquiring an additional 179 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Sonic Automotive by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company's stock worth $1,643,000 after purchasing an additional 212 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sonic Automotive by 4.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,370 shares of the company's stock valued at $530,000 after buying an additional 380 shares during the last quarter. American Century Companies Inc. grew its position in Sonic Automotive by 1.9% in the 4th quarter. American Century Companies Inc. now owns 20,596 shares of the company's stock valued at $1,305,000 after buying an additional 390 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in 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 buying an additional 402 shares during the last quarter. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Price Performance

NYSE SAH traded up $0.93 during trading hours on Tuesday, hitting $62.71. 184,492 shares of the company's stock traded hands, compared to its average volume of 192,438. 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 firm's 50-day moving average is $61.08 and its 200-day moving average is $64.51. Sonic Automotive has a 52-week low of $51.27 and a 52-week high of $76.78. The company has a market capitalization of $2.11 billion, a PE ratio of 10.15 and a beta of 1.43.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.47 billion. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. During the same quarter last year, the business posted $1.36 earnings per share. The firm's revenue was up 7.9% compared to the same quarter last year. Equities analysts forecast that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, June 13th. Sonic Automotive's dividend payout ratio is currently 19.94%.

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.