Sonic Automotive (NYSE:SAH) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Sonic Automotive (NYSE:SAH - Free Report) from a hold rating to a buy rating in a research report released on Monday.

A number of other research firms have also recently issued reports on SAH. Stephens raised their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Needham & Company LLC decreased their target price on Sonic Automotive from $100.00 to $93.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reduced 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. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $69.83.

Sonic Automotive Stock Up 0.3 %

SAH stock traded up $0.16 during midday trading on Monday, hitting $60.28. The company's stock had a trading volume of 254,523 shares, compared to its average volume of 196,182. The company's fifty day moving average price is $61.97 and its 200 day moving average price is $64.15. 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 has a twelve month low of $51.27 and a twelve month high of $76.78. The stock has a market capitalization of $2.03 billion, a P/E ratio of 9.75 and a beta of 1.43.

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, beating analysts' consensus estimates of $1.46 by $0.02. The business 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%. As a group, equities research analysts predict that Sonic Automotive will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, June 13th. Sonic Automotive's payout ratio is currently 22.65%.

Hedge Funds Weigh In On Sonic Automotive

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its position in Sonic Automotive by 346.1% during the third quarter. Barclays PLC now owns 24,413 shares of the company's stock valued at $1,427,000 after purchasing an additional 18,940 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sonic Automotive by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock valued at $98,658,000 after buying an additional 20,058 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Sonic Automotive by 52.1% in the fourth quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company's stock valued at $5,129,000 after buying an additional 27,726 shares in the last quarter. New York State Common Retirement Fund raised its stake in Sonic Automotive by 54.4% during the fourth quarter. New York State Common Retirement Fund now owns 45,000 shares of the company's stock worth $2,851,000 after acquiring an additional 15,849 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Sonic Automotive in the fourth quarter worth about $244,000. 46.92% of the stock is currently owned by institutional investors and hedge funds.

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.