Sonic Automotive, Inc. (NYSE:SAH – Get Free Report) hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $76.78 and last traded at $71.54, with a volume of 7924 shares changing hands. The stock had previously closed at $74.76.
The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%.
Wall Street Analyst Weigh In
A number of research firms have issued reports on SAH. Stephens raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Friday, January 24th. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. decreased their price target on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $74.00 price target on shares of Sonic Automotive in a report on Thursday, January 16th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $67.20.
Institutional Trading of Sonic Automotive
Institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its position in Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after acquiring an additional 402 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after acquiring an additional 599 shares during the last quarter. R Squared Ltd acquired a new position in Sonic Automotive during the fourth quarter worth about $72,000. KLP Kapitalforvaltning AS acquired a new position in Sonic Automotive during the fourth quarter worth about $185,000. Finally, SG Americas Securities LLC acquired a new position in Sonic Automotive during the fourth quarter worth about $244,000. Institutional investors and hedge funds own 46.92% of the company’s stock.
Sonic Automotive Stock Down 3.2 %
The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 12.74 and a beta of 1.68. The business’s 50-day moving average is $67.72 and its two-hundred day moving average is $62.50. 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 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.
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