Sonic Automotive (NYSE:SAH) Rating Lowered to “Hold” at StockNews.com

Sonic Automotive (NYSE:SAH) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

SAH has been the subject of several other reports. Needham & Company LLC reduced their price target on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. JPMorgan Chase & Co. boosted their target price on shares of Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Stephens increased their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sonic Automotive has an average rating of “Moderate Buy” and an average price target of $77.80.

Sonic Automotive Stock Performance

Shares of SAH opened at $62.88 on Monday. The company has a market capitalization of $2.12 billion, a PE ratio of 10.17 and a beta of 1.70. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. The company’s 50 day moving average price is $68.76 and its 200 day moving average price is $63.97. 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 results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating 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%. Research analysts expect that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Sonic Automotive

Several hedge funds and other institutional investors have recently modified their holdings of SAH. Pacific Global Investment Management Co. boosted its holdings in Sonic Automotive by 4.1% in the 4th quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock valued at $288,000 after purchasing an additional 179 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Sonic Automotive by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company’s stock valued at $1,643,000 after buying an additional 212 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sonic Automotive by 4.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,370 shares of the company’s stock worth $530,000 after buying an additional 380 shares in the last quarter. American Century Companies Inc. increased its stake in Sonic Automotive by 1.9% during the fourth quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock valued at $1,305,000 after acquiring an additional 390 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after acquiring an additional 402 shares in the last quarter. Institutional investors and hedge funds 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.