Sonic Automotive (NYSE:SAH) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.
Several other analysts have also issued reports on SAH. Zacks Investment Research upgraded Sonic Automotive from a “sell” rating to a “hold” rating and set a $23.00 target price on the stock in a research note on Tuesday, January 9th. Bank of America raised shares of Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 price objective for the company in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $22.75.
Shares of Sonic Automotive (NYSE SAH) traded up $0.65 during trading hours on Wednesday, hitting $20.25. 186,446 shares of the company’s stock were exchanged, compared to its average volume of 249,315. The firm has a market capitalization of $874.70, a PE ratio of 10.83, a price-to-earnings-growth ratio of 2.97 and a beta of 1.60. Sonic Automotive has a 52 week low of $15.95 and a 52 week high of $22.75. The company has a quick ratio of 0.26, a current ratio of 1.03 and a debt-to-equity ratio of 1.22.
Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in Sonic Automotive by 7.0% in the second quarter. Public Employees Retirement System of Ohio now owns 9,515 shares of the company’s stock valued at $185,000 after purchasing an additional 624 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Sonic Automotive by 14.1% during the second quarter. Voya Investment Management LLC now owns 14,478 shares of the company’s stock worth $282,000 after acquiring an additional 1,790 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Sonic Automotive by 0.6% during the third quarter. Prudential Financial Inc. now owns 425,530 shares of the company’s stock worth $8,681,000 after acquiring an additional 2,600 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Sonic Automotive by 16.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 20,056 shares of the company’s stock worth $370,000 after acquiring an additional 2,873 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Sonic Automotive by 12.5% during the third quarter. Municipal Employees Retirement System of Michigan now owns 32,890 shares of the company’s stock worth $671,000 after acquiring an additional 3,660 shares during the last quarter. Institutional investors own 62.86% of the company’s stock.
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About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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