Stephens Issues Positive Forecast for Sonic Automotive (NYSE:SAH) Stock Price

Sonic Automotive (NYSE:SAH - Free Report) had its price objective increased by Stephens from $83.00 to $92.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

SAH has been the topic of several other research reports. JPMorgan Chase & Co. dropped their price objective on Sonic Automotive from $75.00 to $74.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Needham & Company LLC upped their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a "buy" rating in a report on Thursday. Seaport Res Ptn upgraded Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. Finally, StockNews.com raised Sonic Automotive from a "hold" rating to a "buy" rating in a report on Wednesday, February 12th. 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. According to MarketBeat, Sonic Automotive presently has a consensus rating of "Buy" and an average price target of $78.00.

Sonic Automotive Price Performance

Shares of NYSE:SAH traded down $0.02 on Thursday, reaching $73.55. The company's stock had a trading volume of 174,144 shares, compared to its average volume of 159,363. The company has a market cap 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 quick ratio of 0.35 and a current ratio of 1.11. The company has a 50-day simple moving average of $68.03 and a 200 day simple moving average of $62.82. Sonic Automotive has a 52-week low of $47.82 and a 52-week high of $76.78.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts anticipate that Sonic Automotive will post 5.54 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

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

Institutional Trading of Sonic Automotive

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Sonic Automotive by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock worth $98,658,000 after purchasing an additional 20,058 shares in the last quarter. Millennium Management LLC boosted its holdings in Sonic Automotive by 3.9% during the fourth quarter. Millennium Management LLC now owns 476,107 shares of the company's stock worth $30,161,000 after buying an additional 17,965 shares in the last quarter. Northern Trust Corp grew its position in Sonic Automotive by 6.7% during the fourth quarter. Northern Trust Corp now owns 291,133 shares of the company's stock valued at $18,443,000 after buying an additional 18,232 shares during the period. First Eagle Investment Management LLC grew its position in Sonic Automotive by 12.4% during the fourth quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company's stock valued at $8,369,000 after buying an additional 14,600 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in Sonic Automotive by 1.1% in the fourth quarter. Nuveen Asset Management LLC now owns 128,835 shares of the company's stock valued at $8,162,000 after buying an additional 1,386 shares in the last quarter. 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.