Sonic Automotive (NYSE:SAH) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Sonic Automotive (NYSE:SAH) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

SAH has been the subject of several other reports. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. decreased their price target on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $74.00 price target on shares of Sonic Automotive in a research report on Thursday, January 16th. Finally, Stephens upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sonic Automotive has a consensus rating of “Buy” and a consensus price target of $67.20.

Sonic Automotive Stock Performance

NYSE:SAH opened at $71.62 on Wednesday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 12.74 and a beta of 1.68. The stock has a fifty day moving average price of $67.79 and a 200-day moving average price of $62.56. Sonic Automotive has a fifty-two week low of $47.82 and a fifty-two week high of $76.78. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data 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 return on equity of 21.27% and a net margin of 1.41%. As a group, equities analysts anticipate that Sonic Automotive will post 5.54 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.35 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 1.95%. Sonic Automotive’s payout ratio is 24.91%.

Institutional Trading of Sonic Automotive

Several institutional investors have recently bought and sold shares of SAH. Pacific Global Investment Management Co. boosted its holdings in Sonic Automotive by 4.1% in the fourth quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock worth $288,000 after purchasing an additional 179 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Sonic Automotive by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company’s stock worth $1,643,000 after acquiring an additional 212 shares during the period. American Century Companies Inc. lifted its holdings in Sonic Automotive by 1.9% in the fourth quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock valued at $1,305,000 after acquiring an additional 390 shares during the period. Smartleaf Asset Management LLC boosted its position in Sonic Automotive by 515.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Sonic Automotive by 4.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 11,400 shares of the company’s stock valued at $667,000 after purchasing an additional 500 shares during the period. 46.92% of the stock is owned by hedge funds and other institutional investors.

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.