Sonic Automotive (NYSE:SAH) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Sonic Automotive (NYSE:SAH - Free Report) from a hold rating to a buy rating in a research note issued to investors on Monday.

SAH has been the subject of several other research reports. Stephens increased their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Needham & Company LLC dropped their target price on Sonic Automotive from $100.00 to $93.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.83.

Sonic Automotive Trading Up 1.7 %

Sonic Automotive stock traded up $1.03 during trading on Monday, reaching $60.06. 338,137 shares of the company were exchanged, compared to its average volume of 197,563. 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 $62.24 and its two-hundred day simple moving average is $64.12. The company has a market capitalization of $2.03 billion, a P/E ratio of 9.72 and a beta of 1.43. Sonic Automotive has a 52-week low of $51.27 and a 52-week high of $76.78.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.13. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. On average, equities research analysts expect that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, March 14th. Sonic Automotive's dividend payout ratio (DPR) is 22.65%.

Hedge Funds Weigh In On Sonic Automotive

Hedge funds have recently made changes to their positions in the company. Barclays PLC increased its position in Sonic Automotive by 346.1% during the third quarter. Barclays PLC now owns 24,413 shares of the company's stock worth $1,427,000 after buying an additional 18,940 shares during the period. Franklin Resources Inc. raised its position in Sonic Automotive by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,643 shares of the company's stock valued at $530,000 after purchasing an additional 609 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Sonic Automotive by 68.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company's stock worth $3,113,000 after purchasing an additional 21,650 shares during the period. Harbor Capital Advisors Inc. grew its position in Sonic Automotive by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company's stock worth $3,570,000 after purchasing an additional 978 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Sonic Automotive in the fourth quarter valued at about $244,000. Hedge funds and other 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.