Sonic Automotive, Inc. (NYSE:SAH) Receives $67.20 Average Target Price from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $67.20.

SAH has been the topic of a number of recent research reports. 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. Needham & Company LLC restated a “buy” rating and issued a $74.00 price target on shares of Sonic Automotive in a research report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Bank of America reduced their target price on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Monday, October 14th.

Sonic Automotive Trading Up 2.9 %

Shares of SAH opened at $71.12 on Friday. The stock’s fifty day simple moving average is $66.07 and its 200-day simple moving average is $61.02. The firm has a market capitalization of $2.43 billion, a PE ratio of 12.66 and a beta of 1.67. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $71.18. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Thursday, October 24th. The company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.17). The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.55 billion. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $2.02 EPS. As a group, research analysts predict that Sonic Automotive will post 5.61 earnings per share for the current year.

Institutional Investors Weigh In On Sonic Automotive

A number of hedge funds have recently modified their holdings of SAH. Barclays PLC raised its holdings in Sonic Automotive by 346.1% during the 3rd quarter. Barclays PLC now owns 24,413 shares of the company’s stock worth $1,427,000 after buying an additional 18,940 shares during the period. Intech Investment Management LLC lifted its position in Sonic Automotive by 418.9% in the 3rd quarter. Intech Investment Management LLC now owns 21,692 shares of the company’s stock valued at $1,269,000 after acquiring an additional 17,512 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Sonic Automotive by 124.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company’s stock valued at $3,239,000 after acquiring an additional 30,731 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Sonic Automotive during the 3rd quarter worth about $532,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Sonic Automotive by 68.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock valued at $3,113,000 after purchasing an additional 21,650 shares during the period. Institutional investors and hedge funds own 46.92% of the company’s stock.

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.