Sonic Automotive, Inc. (NYSE:SAH) Receives $67.20 Average Price Target from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $79.20.

A number of research analysts have issued reports on SAH shares. JPMorgan Chase & Co. raised their price target on shares of Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. 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 raised their price target on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, February 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAH. Smartleaf Asset Management LLC increased its holdings in Sonic Automotive by 515.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after buying an additional 402 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Sonic Automotive in the fourth quarter valued at $51,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in Sonic Automotive by 100.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after buying an additional 599 shares in the last quarter. R Squared Ltd purchased a new position in Sonic Automotive in the fourth quarter valued at $72,000. Finally, Aster Capital Management DIFC Ltd increased its holdings in Sonic Automotive by 1,429.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock valued at $98,000 after buying an additional 1,444 shares in the last quarter. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Sonic Automotive Price Performance

Shares of SAH opened at $72.46 on Thursday. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 11.72 and a beta of 1.68. Sonic Automotive has a twelve month low of $47.82 and a twelve month high of $76.78. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The company has a 50 day moving average of $68.40 and a two-hundred day moving average of $63.12.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 20.52%. As a group, analysts predict that Sonic Automotive will post 6.16 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, March 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.93%. Sonic Automotive’s dividend payout ratio (DPR) is presently 22.65%.

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.