Sonic Automotive (NYSE:SAH) Given "Underweight" Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of Sonic Automotive (NYSE:SAH - Free Report) in a research note published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a $72.00 price objective on the stock, up from their prior price objective of $65.00.

SAH has been the subject of several other reports. Benchmark started coverage on shares of Sonic Automotive in a report on Wednesday, May 28th. They set a "buy" rating and a $76.00 target price for the company. Needham & Company LLC decreased their price objective on shares of Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Citigroup started coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price objective for the company. Bank of America boosted their price objective on shares of Sonic Automotive from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Wall Street Zen lowered shares of Sonic Automotive from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $74.29.

Sonic Automotive Stock Up 0.8%

SAH traded up $0.57 on Thursday, hitting $76.87. The company had a trading volume of 219,743 shares, compared to its average volume of 198,571. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.09 and a quick ratio of 0.38. Sonic Automotive has a 52-week low of $52.00 and a 52-week high of $89.62. The stock has a fifty day simple moving average of $76.31 and a 200-day simple moving average of $68.86. The firm has a market capitalization of $2.61 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.75 and a beta of 1.04.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. Sonic Automotive had a net margin of 1.69% and a return on equity of 19.42%. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the business posted $1.36 earnings per share. Sonic Automotive's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 13th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, June 13th. Sonic Automotive's dividend payout ratio (DPR) is 19.94%.

Insider Buying and Selling at Sonic Automotive

In related news, President Jeff Dyke sold 31,152 shares of Sonic Automotive stock in a transaction on Friday, May 30th. The shares were sold at an average price of $70.05, for a total transaction of $2,182,197.60. Following the transaction, the president owned 605,969 shares in the company, valued at approximately $42,448,128.45. The trade was a 4.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 50,000 shares of company stock worth $3,502,062. 42.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SAH. Canada Pension Plan Investment Board bought a new stake in Sonic Automotive in the 4th quarter valued at $51,000. Quarry LP bought a new stake in Sonic Automotive in the 1st quarter valued at $84,000. Aster Capital Management DIFC Ltd increased its holdings in Sonic Automotive by 1,429.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock valued at $98,000 after acquiring an additional 1,444 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Sonic Automotive in the 4th quarter valued at $185,000. Finally, Cetera Investment Advisers bought a new stake in Sonic Automotive in the 1st quarter valued at $218,000. Hedge funds and other institutional investors own 46.92% of the company's stock.

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.