Brokerages Set Sonic Automotive, Inc. (NYSE:SAH) Price Target at $66.50

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $66.33.

SAH has been the topic of several research analyst reports. Needham & Company LLC initiated coverage on Sonic Automotive in a research report on Tuesday, August 20th. They issued a “buy” rating and a $73.00 price objective on the stock. Bank of America reduced their price target on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley raised shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $40.00 to $58.00 in a research report on Wednesday, September 25th. Stephens started coverage on shares of Sonic Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th.

Sonic Automotive Trading Up 0.0 %

SAH stock opened at $56.78 on Friday. Sonic Automotive has a twelve month low of $42.57 and a twelve month high of $64.68. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 10.50 and a beta of 1.60. The company has a quick ratio of 0.36, a current ratio of 1.10 and a debt-to-equity ratio of 2.04. The firm’s fifty day simple moving average is $58.01 and its two-hundred day simple moving average is $56.51.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.38 by $0.09. Sonic Automotive had a net margin of 1.35% and a return on equity of 25.31%. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the prior year, the firm posted $1.83 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. As a group, analysts anticipate that Sonic Automotive will post 5.67 earnings per share for the current year.

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were given a dividend of $0.30 per share. The ex-dividend date was Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 2.11%. Sonic Automotive’s dividend payout ratio (DPR) is presently 22.18%.

Institutional Investors Weigh In On Sonic Automotive

Institutional investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC lifted its position in shares of Sonic Automotive by 8.7% during the third quarter. Inspire Investing LLC now owns 7,036 shares of the company’s stock valued at $411,000 after buying an additional 561 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Sonic Automotive during the 2nd quarter valued at $1,351,000. Point72 DIFC Ltd boosted its position in shares of Sonic Automotive by 6.9% in the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock worth $158,000 after purchasing an additional 187 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Sonic Automotive during the 2nd quarter worth $645,000. Finally, Millennium Management LLC increased its position in Sonic Automotive by 3.8% during the 2nd quarter. Millennium Management LLC now owns 456,588 shares of the company’s stock valued at $24,870,000 after buying an additional 16,556 shares in the last quarter. Institutional investors 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.