StockNews.com Upgrades Sonic Automotive (NYSE:SAH) to Buy

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

A number of other research analysts have also weighed in on the stock. Stephens raised their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Needham & Company LLC dropped their price target on shares of Sonic Automotive from $100.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Sonic Automotive has a consensus rating of “Buy” and a consensus price target of $74.80.

Sonic Automotive Stock Performance

Shares of Sonic Automotive stock opened at $59.72 on Monday. The business has a 50-day simple moving average of $62.80 and a 200 day simple moving average of $64.13. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 9.66 and a beta of 1.43. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. Sonic Automotive has a one year low of $49.77 and a one year high of $76.78.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. On average, research analysts anticipate that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sonic Automotive

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