JPMorgan Chase & Co. Issues Pessimistic Forecast for Sonic Automotive (NYSE:SAH) Stock Price

Sonic Automotive (NYSE:SAH - Free Report) had its target price cut by JPMorgan Chase & Co. from $80.00 to $65.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently issued reports on the stock. Stephens boosted their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. StockNews.com downgraded Sonic Automotive from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, 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 research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $74.80.

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Sonic Automotive Stock Performance

SAH traded up $0.55 on Thursday, reaching $55.66. 108,530 shares of the stock were exchanged, compared to its average volume of 188,821. 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 company's 50-day moving average price is $68.13 and its 200 day moving average price is $64.03. The firm has a market capitalization of $1.88 billion, a PE ratio of 9.07 and a beta of 1.70. Sonic Automotive has a fifty-two week low of $47.82 and a fifty-two week high of $76.78.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued its earnings results 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 19.96% and a net margin of 1.52%. As a group, sell-side analysts forecast that Sonic Automotive will post 6.14 EPS for the current fiscal 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 given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a yield of 2.52%. Sonic Automotive's dividend payout ratio is currently 22.65%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its stake 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 during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Sonic Automotive in the fourth quarter valued at about $51,000. R Squared Ltd purchased a new stake in shares of Sonic Automotive during the fourth quarter worth about $72,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Sonic Automotive by 100.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock worth $70,000 after purchasing an additional 599 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd lifted 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 valued at $98,000 after buying an additional 1,444 shares in the last quarter. 46.92% of the stock is owned by institutional investors and hedge funds.

About Sonic Automotive

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.