Sonic Automotive (NYSE:SAH) Given New $93.00 Price Target at Needham & Company LLC

Sonic Automotive (NYSE:SAH - Get Free Report) had its price objective decreased by stock analysts at Needham & Company LLC from $100.00 to $93.00 in a report released on Wednesday, MarketBeat.com reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price objective suggests a potential upside of 53.20% from the stock's previous close.

SAH has been the subject of a number of other research reports. StockNews.com raised Sonic Automotive from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. Stephens boosted their price target on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Seaport Res Ptn raised Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. boosted their price target on Sonic Automotive from $74.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sonic Automotive currently has a consensus rating of "Buy" and a consensus price target of $77.80.

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Sonic Automotive Stock Up 0.1 %

SAH traded up $0.05 during trading on Wednesday, reaching $60.70. 450,781 shares of the stock traded hands, compared to its average volume of 178,576. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 9.82 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. 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 stock's 50-day simple moving average is $68.85 and its two-hundred day simple moving average is $63.90.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share (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, equities research analysts expect that Sonic Automotive will post 6.14 EPS for the current year.

Institutional Investors Weigh In On Sonic Automotive

A number of large investors have recently bought and sold shares of SAH. Smartleaf Asset Management LLC increased its holdings in Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Sonic Automotive in the fourth quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock valued at $70,000 after purchasing an additional 599 shares during the period. R Squared Ltd acquired a new position in shares of Sonic Automotive during the fourth quarter valued at about $72,000. Finally, Aster Capital Management DIFC Ltd increased its position in shares of Sonic Automotive by 1,429.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock worth $98,000 after acquiring an additional 1,444 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors.

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.