Needham & Company LLC Cuts Sonic Automotive (NYSE:SAH) Price Target to $93.00

Sonic Automotive (NYSE:SAH) had its price target decreased by Needham & Company LLC from $100.00 to $93.00 in a report issued on Wednesday, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research firms have also commented on SAH. JPMorgan Chase & Co. upped their price objective on 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 target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Seaport Res Ptn upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, StockNews.com upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $77.80.

Sonic Automotive Stock Up 0.1 %

SAH stock opened at $60.70 on Wednesday. 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 firm’s fifty day simple moving average is $68.85 and its 200-day simple moving average is $63.84. Sonic Automotive has a 12 month low of $47.82 and a 12 month high of $76.78. The company has a market capitalization of $2.05 billion, a P/E ratio of 9.82 and a beta of 1.70.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating the consensus estimate 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 research analysts forecast that Sonic Automotive will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio is presently 22.65%.

Institutional Trading of Sonic Automotive

Several institutional investors have recently modified their holdings of SAH. Smartleaf Asset Management LLC lifted its stake in Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after buying an additional 402 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Sonic Automotive during the fourth quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Sonic Automotive by 100.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after acquiring an additional 599 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Sonic Automotive in the fourth quarter worth approximately $72,000. Finally, Aster Capital Management DIFC Ltd boosted its stake in shares of Sonic Automotive by 1,429.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock worth $98,000 after acquiring an additional 1,444 shares during the last quarter. Institutional investors and hedge funds 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.