Sonic Automotive (NYSE:SAH) Rating Increased to Buy at StockNews.com

Sonic Automotive (NYSE:SAH - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Wednesday.

Other analysts have also recently issued research reports about the company. Seaport Res Ptn upgraded Sonic Automotive from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. Stephens upgraded shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. cut their target price on shares of Sonic Automotive from $75.00 to $74.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, Needham & Company LLC restated a "buy" rating and set a $74.00 target price on shares of Sonic Automotive in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $78.00.

Sonic Automotive Trading Down 0.0 %

SAH stock traded down $0.02 on Wednesday, hitting $73.55. 174,144 shares of the company were exchanged, compared to its average volume of 159,363. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 13.09 and a beta of 1.68. The business's fifty day moving average is $68.03 and its two-hundred day moving average is $62.79. Sonic Automotive has a twelve month low of $47.82 and a twelve month high of $76.78. 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 issued its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. As a group, research analysts forecast that Sonic Automotive will post 5.54 earnings per share for the current year.

Hedge Funds Weigh In On Sonic Automotive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC grew its holdings in Sonic Automotive by 8.7% during the 3rd quarter. Inspire Investing LLC now owns 7,036 shares of the company's stock worth $411,000 after acquiring an additional 561 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Sonic Automotive in the third quarter worth about $1,244,000. Wealth Enhancement Advisory Services LLC bought a new stake in Sonic Automotive in the third quarter valued at about $532,000. Harbor Capital Advisors Inc. increased its holdings in Sonic Automotive by 124.7% in the third quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company's stock valued at $3,239,000 after buying an additional 30,731 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Sonic Automotive by 163.7% during the third quarter. GSA Capital Partners LLP now owns 32,235 shares of the company's stock valued at $1,885,000 after buying an additional 20,010 shares in the last quarter. 46.92% of the stock is owned by hedge funds and other 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.