Sonic Automotive (NYSE:SAH) Given New $100.00 Price Target at Needham & Company LLC

Sonic Automotive (NYSE:SAH - Free Report) had its price objective hoisted by Needham & Company LLC from $74.00 to $100.00 in a research note issued to investors on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Stephens upgraded shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 24th. Seaport Res Ptn raised Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. reduced their price target on shares of Sonic Automotive from $75.00 to $74.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, StockNews.com raised shares of Sonic Automotive from a "hold" rating to a "buy" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $78.00.

Sonic Automotive Stock Performance

Shares of Sonic Automotive stock traded down $0.02 during trading on Thursday, hitting $73.55. 174,144 shares of the company's stock traded hands, compared to its average volume of 159,363. Sonic Automotive has a 1 year low of $47.82 and a 1 year high of $76.78. The business has a 50-day simple moving average of $68.03 and a 200-day simple moving average of $62.82. The stock has a market capitalization of $2.51 billion, a P/E ratio of 13.09 and a beta of 1.68. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its quarterly earnings results 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 net margin of 1.41% and a return on equity of 21.27%. As a group, analysts forecast that Sonic Automotive will post 5.54 EPS for the current year.

Sonic Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $0.35 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.90%. Sonic Automotive's dividend payout ratio (DPR) is presently 24.91%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Inspire Investing LLC lifted its position in shares of Sonic Automotive by 8.7% in the third quarter. Inspire Investing LLC now owns 7,036 shares of the company's stock valued at $411,000 after acquiring an additional 561 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Sonic Automotive during the 3rd quarter valued at approximately $1,244,000. Wealth Enhancement Advisory Services LLC purchased a new position in Sonic Automotive in the 3rd quarter worth approximately $532,000. Harbor Capital Advisors Inc. boosted its stake in Sonic Automotive by 124.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company's stock worth $3,239,000 after purchasing an additional 30,731 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in Sonic Automotive by 163.7% in the 3rd quarter. GSA Capital Partners LLP now owns 32,235 shares of the company's stock worth $1,885,000 after purchasing an additional 20,010 shares during the period. Institutional investors own 46.92% of the company's stock.

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.