Sonic Automotive (NYSE:SAH) Given New $80.00 Price Target at JPMorgan Chase & Co.

Sonic Automotive (NYSE:SAH) had its price target lifted by JPMorgan Chase & Co. from $74.00 to $80.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

SAH has been the topic of several other research reports. Needham & Company LLC increased their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. StockNews.com upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Stephens lifted their target price on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. 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. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $79.20.

Sonic Automotive Price Performance

Shares of SAH opened at $72.46 on Wednesday. The firm has a fifty day simple moving average of $68.40 and a two-hundred day simple moving average of $63.12. The firm has a market cap of $2.48 billion, a PE ratio of 11.72 and a beta of 1.68. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. Sonic Automotive has a 1-year low of $47.82 and a 1-year high of $76.78.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that Sonic Automotive will post 6.16 EPS for the current year.

Sonic Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 1.93%. Sonic Automotive’s payout ratio is 22.65%.

Institutional Investors Weigh In On Sonic Automotive

Several institutional investors and hedge funds have recently modified their holdings of SAH. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Sonic Automotive by 6.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,412 shares of the company’s stock worth $2,117,000 after acquiring an additional 1,911 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of Sonic Automotive by 110.9% during the 4th quarter. Voloridge Investment Management LLC now owns 69,766 shares of the company’s stock valued at $4,420,000 after purchasing an additional 36,691 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Sonic Automotive by 93.1% during the fourth quarter. Squarepoint Ops LLC now owns 20,010 shares of the company’s stock valued at $1,268,000 after purchasing an additional 9,646 shares in the last quarter. Wexford Capital LP bought a new stake in shares of Sonic Automotive in the fourth quarter worth about $465,000. Finally, State of Wyoming lifted its position in shares of Sonic Automotive by 96.5% in the fourth quarter. State of Wyoming now owns 5,282 shares of the company’s stock worth $335,000 after buying an additional 2,594 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.