Sonic Automotive (NYSE:SAH) Price Target Lowered to $70.00 at JPMorgan Chase & Co.

Sonic Automotive (NYSE:SAH) had its price target decreased by JPMorgan Chase & Co. from $76.00 to $70.00 in a report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other analysts have also issued reports on SAH. Citigroup lifted their price target on Sonic Automotive from $81.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Stephens lowered Sonic Automotive from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $72.00 to $82.00 in a research note on Thursday, July 17th. Benchmark lifted their price target on Sonic Automotive from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Zacks Research lowered Sonic Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Wall Street Zen lowered Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $82.14.

Sonic Automotive Stock Down 0.4%

Shares of SAH opened at $61.17 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.27 and a debt-to-equity ratio of 1.68. Sonic Automotive has a 12 month low of $52.00 and a 12 month high of $89.62. The stock’s 50 day moving average is $74.96 and its two-hundred day moving average is $74.54. The firm has a market cap of $2.09 billion, a P/E ratio of 16.53 and a beta of 0.91.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.41). Sonic Automotive had a net margin of 0.86% and a return on equity of 21.65%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts predict that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.5%. Sonic Automotive’s payout ratio is 41.08%.

Hedge Funds Weigh In On Sonic Automotive

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC raised its position in Sonic Automotive by 1.9% in the first quarter. Voya Investment Management LLC now owns 7,451 shares of the company’s stock valued at $424,000 after purchasing an additional 136 shares during the period. Nisa Investment Advisors LLC raised its position in Sonic Automotive by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 4,509 shares of the company’s stock valued at $362,000 after purchasing an additional 165 shares during the period. Oliver Luxxe Assets LLC raised its position in Sonic Automotive by 0.9% in the second quarter. Oliver Luxxe Assets LLC now owns 23,141 shares of the company’s stock valued at $1,850,000 after purchasing an additional 205 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Sonic Automotive by 992.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock valued at $35,000 after purchasing an additional 397 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Sonic Automotive by 2.0% in the first quarter. Russell Investments Group Ltd. now owns 22,581 shares of the company’s stock valued at $1,286,000 after purchasing an additional 442 shares during the period. 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.