Sonic Automotive (NYSE:SAH) Stock Rating Upgraded by Seaport Res Ptn

Seaport Res Ptn upgraded shares of Sonic Automotive (NYSE:SAH - Free Report) from a hold rating to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

A number of other analysts have also recently commented on the company. Needham & Company LLC lifted their price target on Sonic Automotive from $73.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Morgan Stanley raised Sonic Automotive from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $40.00 to $58.00 in a report on Wednesday, September 25th. Bank of America cut their price target on shares of Sonic Automotive from $67.00 to $66.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Stephens initiated coverage on shares of Sonic Automotive in a report on Thursday, September 12th. They issued an "equal weight" rating and a $64.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Sonic Automotive from $63.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Sonic Automotive has a consensus rating of "Moderate Buy" and a consensus price target of $67.40.

Sonic Automotive Stock Up 5.3 %

Shares of Sonic Automotive stock traded up $3.37 during trading on Thursday, hitting $66.57. 169,098 shares of the stock traded hands, compared to its average volume of 187,076. The stock's fifty day simple moving average is $58.72 and its 200 day simple moving average is $57.84. Sonic Automotive has a 52-week low of $47.82 and a 52-week high of $67.15. The firm has a market cap of $2.28 billion, a P/E ratio of 11.85 and a beta of 1.61. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.17). The firm had revenue of $3.49 billion for the quarter, compared to analysts' expectations of $3.55 billion. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The business's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.02 earnings per share. On average, equities analysts predict that Sonic Automotive will post 5.63 earnings per share for the current fiscal year.

Sonic Automotive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, December 13th. This is a positive change from Sonic Automotive's previous quarterly dividend of $0.30. Sonic Automotive's payout ratio is presently 21.35%.

Institutional Trading of Sonic Automotive

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System grew its position in Sonic Automotive by 85.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 8,298 shares of the company's stock valued at $451,000 after acquiring an additional 3,820 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Sonic Automotive by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,806 shares of the company's stock valued at $730,000 after acquiring an additional 458 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Sonic Automotive by 12.6% during the first quarter. Westwood Holdings Group Inc. now owns 630,450 shares of the company's stock worth $35,898,000 after purchasing an additional 70,540 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Sonic Automotive by 270.0% in the second quarter. Harbor Capital Advisors Inc. now owns 24,652 shares of the company's stock valued at $1,343,000 after buying an additional 17,989 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in Sonic Automotive during the 2nd quarter worth about $41,000. 46.92% of the stock is owned by institutional investors and hedge funds.

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.