Analysts Set Sonic Automotive, Inc. (NYSE:SAH) Target Price at $74.80

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) have received a consensus recommendation of "Buy" from the six brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has 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 issued a report on the stock in the last year is $74.80.

A number of equities research analysts recently weighed in on SAH shares. JPMorgan Chase & Co. dropped their price target on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. StockNews.com lowered shares of Sonic Automotive from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Needham & Company LLC lowered their price objective on shares of Sonic Automotive from $100.00 to $93.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Finally, Stephens upped their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th.

Sonic Automotive Price Performance

Shares of SAH stock traded up $1.49 during trading hours on Friday, hitting $58.68. The company had a trading volume of 66,990 shares, compared to its average volume of 223,842. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 9.49 and a beta of 1.43. Sonic Automotive has a 12 month low of $47.82 and a 12 month high of $76.78. The firm's fifty day moving average is $66.61 and its 200 day moving average is $64.07.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. On average, sell-side analysts predict that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a yield of 2.39%. Sonic Automotive's payout ratio is presently 22.65%.

Institutional Investors Weigh In On Sonic Automotive

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in Sonic Automotive by 15.0% during the 3rd quarter. FMR LLC now owns 52,259 shares of the company's stock worth $3,056,000 after acquiring an additional 6,822 shares during the period. Walleye Capital LLC grew its stake in shares of Sonic Automotive by 245.6% during the third quarter. Walleye Capital LLC now owns 28,210 shares of the company's stock worth $1,650,000 after purchasing an additional 20,047 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its holdings in Sonic Automotive by 100.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock valued at $70,000 after purchasing an additional 599 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Sonic Automotive by 4.6% in the third quarter. Point72 Asset Management L.P. now owns 11,400 shares of the company's stock valued at $667,000 after buying an additional 500 shares during the period. Finally, Readystate Asset Management LP bought a new position in Sonic Automotive during the third quarter worth about $596,000. 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.