Sonic Automotive (NYSE:SAH - Get Free Report) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $74.00 to $80.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 16.53% from the stock's previous close.
A number of other analysts also recently commented on the company. Needham & Company LLC boosted their price objective on Sonic Automotive from $74.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. StockNews.com raised Sonic Automotive from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. Seaport Res Ptn raised Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. Finally, Stephens boosted their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $79.20.
View Our Latest Report on SAH
Sonic Automotive Stock Performance
Sonic Automotive stock traded down $3.66 during mid-day trading on Wednesday, hitting $68.65. 209,472 shares of the company's stock traded hands, compared to its average volume of 191,364. The firm has a 50 day moving average price of $68.50 and a 200 day moving average price of $63.18. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The company has a market cap of $2.35 billion, a PE ratio of 11.11 and a beta of 1.68. Sonic Automotive has a one year low of $47.82 and a one year high of $76.78.
Sonic Automotive (NYSE:SAH - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 20.52% and a net margin of 1.52%. On average, equities analysts forecast that Sonic Automotive will post 6.16 EPS for the current year.
Institutional Investors Weigh In On Sonic Automotive
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in shares of Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock valued at $30,000 after buying an additional 402 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Sonic Automotive during the fourth quarter valued at $51,000. R Squared Ltd purchased a new position in shares of Sonic Automotive during the fourth quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. grew 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 buying an additional 599 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings 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 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
(
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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.
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