Sonic Automotive (NYSE:SAH) Given New $80.00 Price Target at JPMorgan Chase & Co.

Sonic Automotive (NYSE:SAH) had its target price upped by investment analysts at JPMorgan Chase & Co. from $74.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.63% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC raised their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Stephens lifted their price target on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, StockNews.com raised Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sonic Automotive has an average rating of “Buy” and a consensus target price of $79.20.

Sonic Automotive Stock Down 1.5 %

SAH traded down $1.10 on Wednesday, hitting $72.97. 18,084 shares of the company were exchanged, compared to its average volume of 186,764. The firm has a 50-day moving average price of $68.29 and a two-hundred day moving average price of $63.05. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. Sonic Automotive has a twelve month low of $47.82 and a twelve month high of $76.78. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 11.81 and a beta of 1.68.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 20.52% and a net margin of 1.52%. On average, equities analysts predict that Sonic Automotive will post 6.16 earnings per share for the current year.

Hedge Funds Weigh In On Sonic Automotive

A number of institutional investors have recently modified their holdings of SAH. Smartleaf Asset Management LLC boosted its stake in Sonic Automotive by 515.4% during 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 stake in shares of Sonic Automotive in the fourth quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after buying an additional 599 shares during the period. R Squared Ltd purchased a new position in shares of Sonic Automotive during the fourth quarter worth about $72,000. Finally, Aster Capital Management DIFC Ltd increased its position 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 period. 46.92% of the stock is 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.