Sonic Automotive (NYSE:SAH) Stock Price Down 1.8% - Here's Why

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report)'s stock price was down 1.8% on Friday . The company traded as low as $58.50 and last traded at $58.24. Approximately 23,743 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 177,496 shares. The stock had previously closed at $59.32.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SAH shares. JPMorgan Chase & Co. increased their price target on shares of Sonic Automotive from $74.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. StockNews.com raised shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. Stephens increased their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Needham & Company LLC increased their price target on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Seaport Res Ptn raised shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 21st. One equities research 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $79.20.

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Sonic Automotive Trading Down 1.4 %

The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 9.55 and a beta of 1.70. The firm's 50 day moving average is $69.16 and its two-hundred day moving average is $63.91. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. Equities analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid 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 2.37%. Sonic Automotive's payout ratio is currently 22.65%.

Institutional Investors Weigh In On Sonic Automotive

Several large investors have recently made changes to their positions in SAH. Phocas Financial Corp. acquired a new stake in shares of Sonic Automotive in the third quarter valued at approximately $3,645,000. Denali Advisors LLC increased its stake in shares of Sonic Automotive by 111.2% during the fourth quarter. Denali Advisors LLC now owns 87,100 shares of the company's stock valued at $5,518,000 after acquiring an additional 45,857 shares during the period. Voloridge Investment Management LLC increased its stake in shares of Sonic Automotive by 110.9% during the fourth quarter. Voloridge Investment Management LLC now owns 69,766 shares of the company's stock valued at $4,420,000 after acquiring an additional 36,691 shares during the period. HITE Hedge Asset Management LLC increased its stake in shares of Sonic Automotive by 105.2% during the fourth quarter. HITE Hedge Asset Management LLC now owns 58,526 shares of the company's stock valued at $3,708,000 after acquiring an additional 30,002 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Sonic Automotive by 52.1% during the fourth quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company's stock valued at $5,129,000 after acquiring an additional 27,726 shares during the period. Institutional investors and hedge funds own 46.92% of the company's stock.

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.