Benchmark Begins Coverage on Sonic Automotive (NYSE:SAH)

Research analysts at Benchmark initiated coverage on shares of Sonic Automotive (NYSE:SAH - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $76.00 price target on the stock. Benchmark's price target indicates a potential upside of 9.79% from the company's current price.

A number of other brokerages have also recently commented on SAH. Wall Street Zen upgraded shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. 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 target on the stock. JPMorgan Chase & Co. reduced their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Stephens raised their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Needham & Company LLC dropped 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 report on Thursday, April 24th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Sonic Automotive presently has an average rating of "Buy" and an average target price of $70.71.

Sonic Automotive Stock Down 1.1%

Shares of NYSE:SAH traded down $0.75 during midday trading on Wednesday, hitting $69.22. 189,264 shares of the company's stock were exchanged, compared to its average volume of 193,345. 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 stock has a 50 day moving average price of $62.29 and a 200-day moving average price of $65.52. The company has a market cap of $2.35 billion, a PE ratio of 11.20 and a beta of 1.04. Sonic Automotive has a 12 month low of $51.27 and a 12 month high of $76.78.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its stake in 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 in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Sonic Automotive in the 4th quarter worth $51,000. R Squared Ltd purchased a new stake in Sonic Automotive in the 4th quarter worth $72,000. Quarry LP purchased a new stake in Sonic Automotive in the 1st quarter worth $84,000. Finally, Aster Capital Management DIFC Ltd grew its holdings 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 buying an additional 1,444 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors.

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.