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 report released on Friday.

Several other research analysts have also recently weighed in on SAH. Citigroup began coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price target on the stock. 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 research note on Thursday, February 13th. Needham & Company LLC decreased 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. Finally, JPMorgan Chase & Co. dropped their target price on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.83.

Sonic Automotive Stock Up 0.4 %

SAH stock traded up $0.23 during midday trading on Friday, reaching $63.05. 210,927 shares of the company's stock traded hands, compared to its average volume of 192,966. The firm's fifty day moving average price is $60.75 and its 200-day moving average price is $64.53. 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 $2.14 billion, a price-to-earnings ratio of 10.20 and a beta of 1.04. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75.

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

Sonic Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued 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 dividend yield of 2.22%. Sonic Automotive's dividend payout ratio (DPR) is presently 19.94%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its position 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 during the last quarter. Canada Pension Plan Investment Board acquired a new position in Sonic Automotive during the fourth quarter valued at approximately $51,000. R Squared Ltd bought a new stake in Sonic Automotive during the 4th quarter worth approximately $72,000. Aster Capital Management DIFC Ltd boosted its position in Sonic Automotive by 1,429.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock worth $98,000 after acquiring an additional 1,444 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Sonic Automotive in the 4th quarter valued at approximately $185,000. 46.92% of the stock is owned by institutional investors and hedge funds.

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.