Needham & Company LLC Issues Positive Forecast for Sonic Automotive (NYSE:SAH) Stock Price

Sonic Automotive (NYSE:SAH) had its target price lifted by Needham & Company LLC from $74.00 to $100.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on SAH. Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday. Stephens raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $78.00.

Sonic Automotive Trading Down 0.0 %

Shares of Sonic Automotive stock opened at $73.55 on Thursday. The stock has a market cap of $2.51 billion, a P/E ratio of 13.09 and a beta of 1.68. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $76.78. The business’s 50 day moving average is $68.03 and its 200-day moving average is $62.79.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. Equities research analysts predict that Sonic Automotive will post 5.54 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.35 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.90%. Sonic Automotive’s payout ratio is currently 24.91%.

Institutional Investors Weigh In On Sonic Automotive

Several hedge funds and other institutional investors have recently bought and sold shares of SAH. Smartleaf Asset Management LLC raised its holdings in 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 during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Sonic Automotive in the 4th quarter worth about $51,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Sonic Automotive by 100.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after acquiring an additional 599 shares during the last quarter. R Squared Ltd bought a new position in Sonic Automotive in the 4th quarter valued at about $72,000. Finally, Aster Capital Management DIFC Ltd boosted its stake in Sonic Automotive by 1,429.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock valued at $98,000 after purchasing an additional 1,444 shares during the last quarter. 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.