Sonic Automotive, Inc. (NYSE:SAH) Receives $79.63 Consensus Target Price from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been given an average recommendation of “Hold” by the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $79.6250.

SAH has been the subject of a number of analyst reports. Morgan Stanley set a $68.00 price objective on shares of Sonic Automotive in a research report on Monday, December 8th. Zacks Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sonic Automotive in a research report on Monday, December 29th. Wall Street Zen cut Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Finally, Needham & Company LLC reduced their target price on Sonic Automotive from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, October 24th.

Institutional Trading of Sonic Automotive

Several institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of Sonic Automotive by 992.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock worth $35,000 after purchasing an additional 397 shares during the last quarter. Camelot Portfolios LLC acquired a new position in shares of Sonic Automotive during the fourth quarter valued at approximately $41,000. Torren Management LLC purchased a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $50,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Sonic Automotive in the third quarter worth approximately $63,000. Finally, National Bank of Canada FI purchased a new stake in shares of Sonic Automotive during the third quarter worth approximately $78,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Price Performance

Shares of NYSE SAH opened at $59.90 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.02 and a quick ratio of 0.27. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 16.19 and a beta of 0.92. The firm’s 50 day simple moving average is $63.38 and its 200-day simple moving average is $70.34. Sonic Automotive has a 12 month low of $52.00 and a 12 month high of $89.62.

Sonic Automotive Company Profile

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.