Sonic Automotive (NYSE:SAH) Downgraded to “Hold” Rating by StockNews.com

Sonic Automotive (NYSE:SAH) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

A number of other brokerages have also recently issued reports on SAH. Needham & Company LLC reduced their price objective on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. JPMorgan Chase & Co. lifted their price target on Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Stephens upped their price objective on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.80.

Sonic Automotive Stock Performance

Sonic Automotive stock traded up $2.26 during mid-day trading on Monday, hitting $63.13. 227,156 shares of the company’s stock traded hands, compared to its average volume of 178,771. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The firm has a 50 day simple moving average of $68.83 and a two-hundred day simple moving average of $63.93. Sonic Automotive has a fifty-two week low of $47.82 and a fifty-two week high of $76.78. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 10.21 and a beta of 1.70.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. On average, research analysts expect that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Sonic Automotive

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of Sonic Automotive by 346.1% during the 3rd quarter. Barclays PLC now owns 24,413 shares of the company’s stock valued at $1,427,000 after acquiring an additional 18,940 shares during the period. Intech Investment Management LLC raised its stake in Sonic Automotive by 418.9% in the third quarter. Intech Investment Management LLC now owns 21,692 shares of the company’s stock valued at $1,269,000 after purchasing an additional 17,512 shares in the last quarter. New York State Common Retirement Fund raised its stake in Sonic Automotive by 54.4% in the fourth quarter. New York State Common Retirement Fund now owns 45,000 shares of the company’s stock valued at $2,851,000 after purchasing an additional 15,849 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Sonic Automotive by 68.6% during the third quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock worth $3,113,000 after purchasing an additional 21,650 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Sonic Automotive during the fourth quarter worth about $244,000. 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.