Sonic Automotive (NYSE:SAH) Coverage Initiated at Citigroup

Research analysts at Citigroup began coverage on shares of Sonic Automotive (NYSE:SAH) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $64.00 price target on the stock. Citigroup’s target price would suggest a potential upside of 6.56% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Stephens increased their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC decreased their price target on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. JPMorgan Chase & Co. cut their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, StockNews.com upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Sonic Automotive currently has a consensus rating of “Moderate Buy” and an average price target of $69.83.

Sonic Automotive Price Performance

Shares of NYSE SAH opened at $60.06 on Wednesday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The firm has a market capitalization of $2.03 billion, a PE ratio of 9.72 and a beta of 1.43. Sonic Automotive has a 1-year low of $51.27 and a 1-year high of $76.78. The business’s fifty day moving average price is $62.24 and its two-hundred day moving average price is $64.12.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.13. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. On average, research analysts expect that Sonic Automotive will post 6.14 EPS for the current year.

Institutional Trading of Sonic Automotive

Large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in shares of Sonic Automotive by 515.4% during 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 during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Sonic Automotive during the fourth quarter valued at $51,000. R Squared Ltd acquired a new position in shares of Sonic Automotive in the 4th quarter valued at $72,000. Aster Capital Management DIFC Ltd increased its stake in Sonic Automotive by 1,429.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock worth $98,000 after purchasing an additional 1,444 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Sonic Automotive during the 4th quarter worth about $185,000. 46.92% of the stock is currently owned by institutional investors.

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.