Sonic Automotive (NYSE:SAH) Price Target Lowered to $65.00 at JPMorgan Chase & Co.

Sonic Automotive (NYSE:SAH) had its price objective lowered by JPMorgan Chase & Co. from $80.00 to $65.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Needham & Company LLC reduced their price objective on shares of Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. StockNews.com cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a report on Monday. Finally, Stephens boosted their target price on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sonic Automotive currently has an average rating of “Moderate Buy” and an average price target of $74.80.

Sonic Automotive Trading Down 7.7 %

Sonic Automotive stock opened at $57.09 on Thursday. Sonic Automotive has a 52-week low of $47.82 and a 52-week high of $76.78. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 9.24 and a beta of 1.70. The firm has a 50-day moving average price of $68.40 and a two-hundred day moving average price of $63.90.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data 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%. Sell-side analysts expect that Sonic Automotive will post 6.14 earnings per share for the current year.

Sonic Automotive Announces Dividend

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 paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio is presently 22.65%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Pacific Global Investment Management Co. lifted its position in shares of Sonic Automotive by 4.1% during the 4th quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock valued at $288,000 after acquiring an additional 179 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Sonic Automotive by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company’s stock worth $1,643,000 after purchasing an additional 212 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Sonic Automotive by 4.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,370 shares of the company’s stock valued at $530,000 after purchasing an additional 380 shares during the period. American Century Companies Inc. increased its stake in Sonic Automotive by 1.9% in the 4th quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock worth $1,305,000 after purchasing an additional 390 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in 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. Institutional investors and hedge funds own 46.92% of the company’s stock.

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.