Sonic Automotive (NYSE:SAH) Cut to “Hold” at StockNews.com

Sonic Automotive (NYSE:SAH) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other brokerages have also weighed in on SAH. Stephens raised their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC lowered their target price on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sonic Automotive currently has a consensus rating of “Moderate Buy” and an average price target of $77.80.

Sonic Automotive Price Performance

Shares of Sonic Automotive stock traded up $2.26 during trading on Monday, reaching $63.13. 227,156 shares of the company’s stock were exchanged, compared to its average volume of 178,771. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. Sonic Automotive has a 1-year low of $47.82 and a 1-year high of $76.78. The company has a market cap of $2.13 billion, a P/E ratio of 10.21 and a beta of 1.70. The firm’s 50-day moving average price is $68.83 and its 200 day moving average price is $63.93.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. As a group, research analysts anticipate that Sonic Automotive will post 6.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SAH. Barclays PLC raised its position in shares of Sonic Automotive by 346.1% during the third quarter. Barclays PLC now owns 24,413 shares of the company’s stock worth $1,427,000 after acquiring an additional 18,940 shares during the last quarter. Intech Investment Management LLC raised its holdings in Sonic Automotive by 418.9% during the 3rd quarter. Intech Investment Management LLC now owns 21,692 shares of the company’s stock worth $1,269,000 after purchasing an additional 17,512 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Sonic Automotive by 54.4% in the 4th quarter. New York State Common Retirement Fund now owns 45,000 shares of the company’s stock worth $2,851,000 after purchasing an additional 15,849 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sonic Automotive by 68.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock valued at $3,113,000 after purchasing an additional 21,650 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Sonic Automotive during the fourth quarter worth $244,000. 46.92% of the stock is owned by institutional investors and hedge funds.

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.