Sonic Automotive, Inc. (NYSE:SAH) Given Average Recommendation of “Buy” by Brokerages

Sonic Automotive, Inc. (NYSE:SAH) has been assigned an average rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $67.20.

SAH has been the subject of several recent research reports. JPMorgan Chase & Co. dropped 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 reiterated a “buy” rating and issued a $74.00 target price on shares of Sonic Automotive in a report on Thursday, January 16th. Stephens raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 24th. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Seaport Res Ptn upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st.

Sonic Automotive Stock Down 4.2 %

NYSE SAH opened at $71.62 on Thursday. The stock has a 50 day moving average price of $67.79 and a 200-day moving average price of $62.56. Sonic Automotive has a one year low of $47.82 and a one year 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. The company has a market capitalization of $2.45 billion, a P/E ratio of 12.74 and a beta of 1.68.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. As a group, equities analysts predict that Sonic Automotive will post 5.54 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive’s dividend payout ratio (DPR) is presently 24.91%.

Institutional Trading of Sonic Automotive

Institutional investors and hedge funds have recently made changes to their positions in the business. 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 buying an additional 402 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in 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 acquiring an additional 599 shares in the last quarter. R Squared Ltd purchased a new position in shares of Sonic Automotive during the fourth quarter worth approximately $72,000. KLP Kapitalforvaltning AS bought a new stake in shares of Sonic Automotive during the fourth quarter valued at approximately $185,000. Finally, SG Americas Securities LLC bought a new stake in shares of Sonic Automotive during the fourth quarter valued at approximately $244,000. 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.