Analysts Set Sonic Automotive, Inc. (NYSE:SAH) Target Price at $69.83

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $69.83.

Several research firms have issued reports on SAH. Citigroup assumed coverage on Sonic Automotive in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price target on the stock. Wall Street Zen raised Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Needham & Company LLC reduced their target price on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. 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 research note on Thursday, March 27th. Finally, Stephens lifted their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th.

Hedge Funds Weigh In On Sonic Automotive

Hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock worth $30,000 after purchasing an additional 402 shares during the period. Canada Pension Plan Investment Board purchased a new position in Sonic Automotive in the fourth quarter worth $51,000. R Squared Ltd purchased a new position in Sonic Automotive in the fourth quarter worth $72,000. Quarry LP purchased a new position in Sonic Automotive in the first quarter worth $84,000. Finally, Aster Capital Management DIFC Ltd boosted its position in 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 valued at $98,000 after buying an additional 1,444 shares during the period. Institutional investors own 46.92% of the company's stock.

Sonic Automotive Stock Up 3.4%

Shares of SAH traded up $2.27 during trading hours on Friday, hitting $69.41. 167,135 shares of the company were exchanged, compared to its average volume of 192,876. The firm's 50 day moving average is $61.81 and its 200-day moving average is $65.44. Sonic Automotive has a 52 week low of $51.27 and a 52 week high of $76.78. The company has a market cap of $2.36 billion, a PE ratio of 11.23 and a beta of 1.04. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the firm posted $1.36 EPS. The business's revenue was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, June 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. Sonic Automotive's dividend payout ratio (DPR) is currently 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.