Sonic Automotive (NYSE:SAH) Price Target Raised to $80.00

Sonic Automotive (NYSE:SAH) had its price objective increased by JPMorgan Chase & Co. from $74.00 to $80.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on SAH. Needham & Company LLC boosted their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Seaport Res Ptn upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Stephens upped their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, StockNews.com upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sonic Automotive currently has a consensus rating of “Buy” and a consensus target price of $79.20.

Sonic Automotive Trading Down 5.1 %

Shares of SAH stock opened at $68.65 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. The stock has a market cap of $2.35 billion, a P/E ratio of 11.11 and a beta of 1.68. The stock has a 50 day simple moving average of $68.54 and a 200 day simple moving average of $63.26. Sonic Automotive has a 1 year low of $47.82 and a 1 year high of $76.78.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 20.52% and a net margin of 1.52%. On average, research analysts predict that Sonic Automotive will post 6.16 earnings per share 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. Investors of record on Friday, March 14th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 annualized dividend and a dividend yield of 2.04%. Sonic Automotive’s dividend payout ratio is 22.65%.

Institutional Trading of Sonic Automotive

A number of institutional investors have recently bought and sold shares of SAH. Assenagon Asset Management S.A. bought a new stake in Sonic Automotive during the third quarter valued at $1,244,000. Wealth Enhancement Advisory Services LLC bought a new stake in Sonic Automotive during the third quarter valued at $532,000. Harbor Capital Advisors Inc. boosted its position in Sonic Automotive by 124.7% during the third 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 during the last quarter. GSA Capital Partners LLP boosted its position in Sonic Automotive by 163.7% during the third quarter. GSA Capital Partners LLP now owns 32,235 shares of the company’s stock valued at $1,885,000 after acquiring an additional 20,010 shares during the last quarter. Finally, MQS Management LLC bought a new stake in Sonic Automotive during the third quarter valued at $394,000. Institutional investors 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.