Sonic Automotive (NYSE:SAH) Stock Rating Upgraded by Seaport Res Ptn

Sonic Automotive (NYSE:SAH) was upgraded by research analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Bank of America dropped their price objective on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC raised their price target on Sonic Automotive from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Morgan Stanley raised shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $40.00 to $58.00 in a research note on Wednesday, September 25th. Stephens assumed coverage on shares of Sonic Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sonic Automotive currently has an average rating of “Moderate Buy” and a consensus price target of $67.40.

Sonic Automotive Stock Up 5.3 %

NYSE:SAH opened at $66.57 on Thursday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 11.85 and a beta of 1.61. Sonic Automotive has a twelve month low of $47.82 and a twelve month high of $67.15. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. The stock has a fifty day simple moving average of $58.72 and a 200-day simple moving average of $57.84.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.17). The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.55 billion. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.02 EPS. Analysts anticipate that Sonic Automotive will post 5.63 EPS for the current year.

Institutional Investors Weigh In On Sonic Automotive

Several institutional investors have recently added to or reduced their stakes in SAH. Innealta Capital LLC acquired a new position in shares of Sonic Automotive in the 2nd quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. increased its holdings 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 purchasing an additional 599 shares during the period. AM Squared Ltd purchased a new position in shares of Sonic Automotive in the second quarter worth about $82,000. Point72 DIFC Ltd lifted its holdings in shares of Sonic Automotive by 6.9% during the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock worth $158,000 after purchasing an additional 187 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Sonic Automotive in the second quarter valued at approximately $228,000. Institutional investors and hedge funds 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.