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

Sonic Automotive, Inc. (NYSE:SAH) has been given an average rating of “Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $79.20.

Several equities research analysts have recently weighed in on the stock. Stephens boosted their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Needham & Company LLC lifted their price target 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. JPMorgan Chase & Co. lifted their price target on shares of Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th.

Sonic Automotive Stock Performance

Shares of SAH stock opened at $58.87 on Monday. The company’s fifty day simple moving average is $69.23 and its 200-day simple moving average is $63.91. Sonic Automotive has a 52 week low of $47.82 and a 52 week high of $76.78. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. The company has a market cap of $1.99 billion, a PE ratio of 9.53 and a beta of 1.70.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. As a group, equities research analysts anticipate that Sonic Automotive will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The company 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. This represents a $1.40 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s payout ratio is 22.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Phocas Financial Corp. boosted its stake in Sonic Automotive by 86.6% during the 4th quarter. Phocas Financial Corp. now owns 116,343 shares of the company’s stock valued at $7,370,000 after purchasing an additional 54,008 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Sonic Automotive by 6.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,412 shares of the company’s stock valued at $2,117,000 after purchasing an additional 1,911 shares during the period. Voloridge Investment Management LLC boosted its stake in Sonic Automotive by 110.9% during the 4th quarter. Voloridge Investment Management LLC now owns 69,766 shares of the company’s stock valued at $4,420,000 after purchasing an additional 36,691 shares during the period. Squarepoint Ops LLC boosted its stake in Sonic Automotive by 93.1% during the 4th quarter. Squarepoint Ops LLC now owns 20,010 shares of the company’s stock valued at $1,268,000 after purchasing an additional 9,646 shares during the period. Finally, Wexford Capital LP acquired a new position in Sonic Automotive during the 4th quarter valued at about $465,000. 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.