Needham & Company LLC Lowers Sonic Automotive (NYSE:SAH) Price Target to $93.00

Sonic Automotive (NYSE:SAH) had its target price decreased by stock analysts at Needham & Company LLC from $100.00 to $93.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 53.25% from the stock’s current price.

Several other research analysts have also commented on SAH. JPMorgan Chase & Co. lifted their price objective on shares of Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. 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 report on Wednesday, February 12th. Finally, Stephens lifted 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. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $77.80.

Sonic Automotive Stock Down 0.1 %

NYSE SAH opened at $60.69 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. The company has a fifty day moving average of $68.91 and a two-hundred day moving average of $63.85. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 9.82 and a beta of 1.70. Sonic Automotive has a 52 week low of $47.82 and a 52 week 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, topping the consensus estimate 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, analysts predict that Sonic Automotive will post 6.14 earnings per share for the current year.

Hedge Funds Weigh In On Sonic Automotive

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAH. Intech Investment Management LLC grew 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 during the last quarter. FMR LLC grew its stake in Sonic Automotive by 15.0% in the third quarter. FMR LLC now owns 52,259 shares of the company’s stock valued at $3,056,000 after purchasing an additional 6,822 shares during the last quarter. Quantbot Technologies LP grew its stake in Sonic Automotive by 667.6% in the third quarter. Quantbot Technologies LP now owns 12,113 shares of the company’s stock valued at $708,000 after purchasing an additional 10,535 shares during the last quarter. Walleye Capital LLC grew its stake in Sonic Automotive by 245.6% in the third quarter. Walleye Capital LLC now owns 28,210 shares of the company’s stock valued at $1,650,000 after purchasing an additional 20,047 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in Sonic Automotive by 100.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after purchasing an additional 599 shares during the last quarter. Hedge funds and other 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.