Sonic Automotive (NYSE:SAH) Sets New 12-Month High - Should You Buy?

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $72.67 and last traded at $72.53, with a volume of 166070 shares trading hands. The stock had previously closed at $71.10.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SAH. Stephens upgraded shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 24th. Bank of America dropped their price objective on Sonic Automotive from $67.00 to $66.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Needham & Company LLC reissued a "buy" rating and issued a $74.00 target price on shares of Sonic Automotive in a report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price target 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, Seaport Res Ptn upgraded shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $67.20.

Sonic Automotive Trading Down 1.3 %

The firm has a market cap of $2.54 billion, a PE ratio of 13.23 and a beta of 1.67. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. The business has a 50-day moving average price of $66.94 and a two-hundred day moving average price of $61.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System lifted its stake in shares of Sonic Automotive by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company's stock valued at $1,643,000 after buying an additional 212 shares during the period. Point72 Asset Management L.P. grew its holdings in Sonic Automotive by 4.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 11,400 shares of the company's stock valued at $667,000 after buying an additional 500 shares during the period. Inspire Investing LLC increased its stake in shares of Sonic Automotive by 8.7% during the 3rd quarter. Inspire Investing LLC now owns 7,036 shares of the company's stock valued at $411,000 after acquiring an additional 561 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Sonic Automotive by 100.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock worth $70,000 after acquiring an additional 599 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of 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. 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.