Sonic Automotive, Inc. (NYSE:SAH) Receives $69.83 Average PT from Brokerages

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) have received an average rating of "Moderate Buy" from the eight brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $70.71.

SAH has been the topic of several recent research reports. Citigroup assumed coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 target price on the stock. Benchmark assumed coverage on shares of Sonic Automotive in a report on Wednesday. They set a "buy" rating and a $76.00 price objective on the stock. Wall Street Zen raised shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Needham & Company LLC lowered their target price on shares of Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Stephens upped their price target on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SAH. Smartleaf Asset Management LLC increased its holdings in Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock valued at $30,000 after purchasing 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 about $51,000. R Squared Ltd purchased a new position in Sonic Automotive in the fourth quarter valued at approximately $72,000. Quarry LP purchased a new position in shares of Sonic Automotive in the 1st quarter valued at $84,000. Finally, Aster Capital Management DIFC Ltd increased its position in shares of Sonic Automotive by 1,429.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock worth $98,000 after purchasing an additional 1,444 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company's stock.

Sonic Automotive Stock Performance

Shares of NYSE:SAH traded up $0.33 during trading on Friday, hitting $69.71. The company's stock had a trading volume of 103,693 shares, compared to its average volume of 192,527. Sonic Automotive has a 12 month low of $51.27 and a 12 month high of $76.78. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 11.28 and a beta of 1.04. The company has a 50-day moving average of $61.98 and a 200-day moving average of $65.47. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35.

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

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a $0.35 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.01%. Sonic Automotive's dividend payout ratio (DPR) is presently 19.94%.

About Sonic Automotive

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.