Sonic Automotive (NYSE:SAH) Given New $100.00 Price Target at Needham & Company LLC

Sonic Automotive (NYSE:SAH) had its price objective increased by equities researchers at Needham & Company LLC from $74.00 to $100.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 39.63% from the stock’s current price.

Other research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Wednesday. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. reduced their price objective 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. Finally, Stephens upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $72.40.

Sonic Automotive Stock Performance

Shares of Sonic Automotive stock opened at $71.62 on Thursday. Sonic Automotive has a 12 month low of $47.82 and a 12 month high of $76.78. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The stock has a market cap of $2.45 billion, a PE ratio of 12.74 and a beta of 1.68. The business has a fifty day simple moving average of $67.79 and a 200-day simple moving average of $62.56.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. On average, sell-side analysts anticipate that Sonic Automotive will post 5.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Sonic Automotive

Institutional investors have recently bought and sold shares of the stock. Pacific Global Investment Management Co. increased its holdings 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 boosted its position in 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. American Century Companies Inc. grew its holdings in Sonic Automotive by 1.9% during the fourth quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock valued at $1,305,000 after purchasing an additional 390 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of 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 period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Sonic Automotive by 4.6% in the third quarter. Point72 Asset Management L.P. now owns 11,400 shares of the company’s stock worth $667,000 after buying an additional 500 shares during the last quarter. 46.92% of the stock is currently owned by 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.