Brokerages Set Sonic Automotive, Inc. (NYSE:SAH) Price Target at $67.20

Shares of Sonic Automotive, Inc. (NYSE:SAH) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $67.20.

SAH has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $74.00 price target on shares of Sonic Automotive in a research note on Thursday, January 16th. Seaport Res Ptn upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Bank of America cut their price target on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered their price objective 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.

Hedge Funds Weigh In On Sonic Automotive

Large investors have recently modified their holdings of the stock. Millennium Management LLC grew its holdings in Sonic Automotive by 3.8% in the 2nd quarter. Millennium Management LLC now owns 456,588 shares of the company’s stock valued at $24,870,000 after buying an additional 16,556 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Sonic Automotive by 679.8% in the second quarter. Squarepoint Ops LLC now owns 95,006 shares of the company’s stock valued at $5,175,000 after acquiring an additional 82,823 shares in the last quarter. Renaissance Technologies LLC increased its position in Sonic Automotive by 26.8% during the second quarter. Renaissance Technologies LLC now owns 88,826 shares of the company’s stock worth $4,838,000 after acquiring an additional 18,800 shares during the period. Phocas Financial Corp. acquired a new stake in Sonic Automotive in the 3rd quarter worth about $3,645,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Sonic Automotive by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company’s stock valued at $3,570,000 after purchasing an additional 978 shares during the period. 46.92% of the stock is owned by institutional investors.

Sonic Automotive Stock Performance

Shares of SAH stock opened at $71.12 on Friday. Sonic Automotive has a 12 month low of $47.82 and a 12 month high of $71.18. The company’s fifty day simple moving average is $66.07 and its 200-day simple moving average is $61.02. The firm has a market cap of $2.43 billion, a PE ratio of 12.66 and a beta of 1.67. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.17). Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the prior year, the company earned $2.02 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts expect that Sonic Automotive will post 5.61 EPS for the current fiscal year.

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.