Sonic Automotive, Inc. (NYSE:SAH) Given Consensus Recommendation of “Buy” by Analysts

Sonic Automotive, Inc. (NYSE:SAH) has been assigned an average rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $67.20.

A number of analysts have commented on SAH shares. Needham & Company LLC reaffirmed a “buy” rating and set a $74.00 target price on shares of Sonic Automotive in a report on Thursday, January 16th. JPMorgan Chase & Co. cut their price objective on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Stephens raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 24th.

Sonic Automotive Price Performance

NYSE SAH opened at $71.62 on Thursday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 12.74 and a beta of 1.68. Sonic Automotive has a 1-year low of $47.82 and a 1-year high of $76.78. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. The business’s fifty day moving average price is $67.79 and its 200-day moving average price is $62.56.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. On average, equities analysts predict that Sonic Automotive will post 5.54 earnings per share for the current year.

Sonic Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.35 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.95%. Sonic Automotive’s payout ratio is 24.91%.

Institutional Trading of Sonic Automotive

Several institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its stake in Sonic Automotive by 346.1% in the 3rd quarter. Barclays PLC now owns 24,413 shares of the company’s stock worth $1,427,000 after purchasing an additional 18,940 shares during the period. Intech Investment Management LLC boosted its position in shares of Sonic Automotive by 418.9% during the third quarter. Intech Investment Management LLC now owns 21,692 shares of the company’s stock worth $1,269,000 after acquiring an additional 17,512 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake 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 in the last quarter. JPMorgan Chase & Co. grew its stake in Sonic Automotive by 68.6% during the third quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock valued at $3,113,000 after acquiring an additional 21,650 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Sonic Automotive in the 3rd quarter valued at $532,000. Hedge funds and other 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.