Sonic Automotive (NYSE:SAH) Rating Lowered to Hold at StockNews.com

Sonic Automotive (NYSE:SAH) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other research analysts have also recently issued reports on SAH. Stephens lifted their price objective on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC dropped their target price on shares of Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sonic Automotive presently has a consensus rating of “Moderate Buy” and an average price target of $77.80.

Sonic Automotive Stock Performance

NYSE:SAH opened at $62.88 on Monday. The firm has a market capitalization of $2.12 billion, a PE ratio of 10.17 and a beta of 1.70. 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 has a 12-month low of $47.82 and a 12-month high of $76.78. The firm has a 50-day moving average price of $68.76 and a 200 day moving average price of $63.97.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions 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 purchasing an additional 402 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Sonic Automotive in the 4th quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. raised its position 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 valued at $70,000 after acquiring an additional 599 shares during the period. R Squared Ltd bought a new position in Sonic Automotive during the 4th quarter worth approximately $72,000. Finally, Aster Capital Management DIFC Ltd grew its holdings in Sonic Automotive by 1,429.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock valued at $98,000 after purchasing an additional 1,444 shares during the period. 46.92% of the stock is currently owned by 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.