Sonic Automotive, Inc. (NYSE:SAH) Receives Consensus Rating of “Buy” from Brokerages

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been given a consensus rating of “Buy” by the six research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $78.00.

SAH has been the topic of a number of research analyst reports. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Stephens boosted their price objective 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. JPMorgan Chase & Co. decreased their price objective on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Needham & Company LLC boosted their price objective 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.

Sonic Automotive Price Performance

Shares of NYSE SAH opened at $73.55 on Thursday. The stock has a fifty day simple moving average of $68.15 and a two-hundred day simple moving average of $62.92. Sonic Automotive has a 1-year low of $47.82 and a 1-year high of $76.78. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 13.09 and a beta of 1.68.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. Analysts anticipate that Sonic Automotive will post 5.54 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.90%. Sonic Automotive’s dividend payout ratio is presently 24.91%.

Institutional Investors Weigh In On Sonic Automotive

A number of hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its stake in shares of 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 in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Sonic Automotive in the 4th quarter worth $51,000. R Squared Ltd purchased a new stake in shares of Sonic Automotive in the 4th quarter worth $72,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Sonic Automotive by 100.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after purchasing an additional 599 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its stake in shares of 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 worth $98,000 after purchasing an additional 1,444 shares in the last quarter. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

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.