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

Sonic Automotive (NYSE:SAH) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

A number of other brokerages have also commented on SAH. Needham & Company LLC lowered their price target on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. lowered their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, Stephens upped their price target 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. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $74.80.

Sonic Automotive Stock Down 1.0 %

Sonic Automotive stock traded down $0.60 during midday trading on Monday, hitting $58.13. 176,215 shares of the stock were exchanged, compared to its average volume of 196,758. 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 company has a 50 day moving average price of $63.08 and a two-hundred day moving average price of $64.16. The firm has a market cap of $1.96 billion, a P/E ratio of 9.41 and a beta of 1.43. Sonic Automotive has a 1 year low of $48.61 and a 1 year high of $76.78.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. On average, sell-side analysts predict that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sonic Automotive

Institutional investors have recently modified their holdings of the business. Pacific Global Investment Management Co. increased its stake in Sonic Automotive by 4.1% in the 4th quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock valued at $288,000 after buying an additional 179 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Sonic Automotive by 0.8% in 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 purchasing an additional 212 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Sonic Automotive by 4.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,370 shares of the company’s stock valued at $530,000 after acquiring an additional 380 shares during the period. American Century Companies Inc. lifted its holdings in Sonic Automotive by 1.9% during the 4th quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock worth $1,305,000 after purchasing an additional 390 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after buying an additional 402 shares in the last quarter. 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.