Sonic Automotive (NYSE:SAH) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Sonic Automotive (NYSE:SAH) from a buy rating to a hold rating in a research note released on Monday morning.

Several other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their target price 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. Stephens increased their price objective on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, 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. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.80.

Sonic Automotive Stock Performance

Shares of SAH opened at $61.84 on Monday. The firm has a fifty day moving average of $68.62 and a 200-day moving average of $63.95. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 10.01 and a beta of 1.70. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. Sonic Automotive has a 1 year low of $47.82 and a 1 year high of $76.78.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. As a group, equities analysts anticipate that Sonic Automotive will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The firm 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 yield of 2.26%. Sonic Automotive’s payout ratio is currently 22.65%.

Institutional Investors Weigh In On Sonic Automotive

A number of institutional investors and hedge funds have recently modified their holdings of the company. Phocas Financial Corp. grew its stake in Sonic Automotive by 86.6% in the 4th quarter. Phocas Financial Corp. now owns 116,343 shares of the company’s stock valued at $7,370,000 after buying an additional 54,008 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Sonic Automotive by 6.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,412 shares of the company’s stock valued at $2,117,000 after purchasing an additional 1,911 shares during the last quarter. 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 worth $4,420,000 after purchasing an additional 36,691 shares during the period. Squarepoint Ops LLC lifted its holdings in Sonic Automotive by 93.1% during the 4th quarter. Squarepoint Ops LLC now owns 20,010 shares of the company’s stock worth $1,268,000 after purchasing an additional 9,646 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in Sonic Automotive in the 4th quarter valued at $465,000. 46.92% of the stock is owned by institutional investors.

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.