Sonic Automotive (NYSE:SAH) PT Raised to $53.00

Sonic Automotive (NYSE:SAH) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $48.00 to $53.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 6.08% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley lifted their target price on shares of Sonic Automotive from $35.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Bank of America upgraded Sonic Automotive from an “underperform” rating to a “buy” rating and upped their target price for the stock from $55.00 to $68.00 in a report on Friday, April 26th. StockNews.com cut Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, TheStreet raised Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.60.

Sonic Automotive Trading Down 1.1 %

SAH traded down $0.65 during midday trading on Thursday, reaching $56.43. 143,648 shares of the company’s stock traded hands, compared to its average volume of 290,635. Sonic Automotive has a 52 week low of $39.02 and a 52 week high of $64.68. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.35. The firm has a fifty day moving average of $53.14 and a two-hundred day moving average of $52.51. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 11.56 and a beta of 1.75.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Thursday, April 25th. The company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.06. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. Sonic Automotive had a return on equity of 27.46% and a net margin of 1.21%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. On average, equities analysts anticipate that Sonic Automotive will post 5.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Bruton Smith sold 3,861 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.43, for a total transaction of $237,181.23. Following the completion of the transaction, the chief executive officer now directly owns 583,054 shares in the company, valued at $35,817,007.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 40.95% of the company’s stock.

Institutional Investors Weigh In On Sonic Automotive

A number of institutional investors have recently made changes to their positions in SAH. Allspring Global Investments Holdings LLC purchased a new position in Sonic Automotive in the 1st quarter worth approximately $30,000. TFO Wealth Partners LLC increased its holdings in shares of Sonic Automotive by 35,366.7% in the 4th quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock worth $120,000 after purchasing an additional 2,122 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Sonic Automotive in the third quarter worth $135,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sonic Automotive by 16.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,132 shares of the company’s stock valued at $176,000 after buying an additional 447 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Sonic Automotive in the 4th quarter worth about $185,000. Hedge funds and other institutional investors 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.