Sonic Automotive (NYSE:SAH) had its price objective hoisted by stock analysts at Morgan Stanley from $23.00 to $25.00 in a report issued on Wednesday. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 23.76% from the company’s current price.
A number of other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Sonic Automotive from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Bank of America upgraded shares of Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 price target on the stock in a research report on Monday, January 8th. Finally, ValuEngine downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Sonic Automotive currently has a consensus rating of “Hold” and an average price target of $23.25.
Sonic Automotive (NYSE SAH) traded up $0.21 during mid-day trading on Wednesday, hitting $20.20. 26,616 shares of the company’s stock were exchanged, compared to its average volume of 298,103. Sonic Automotive has a one year low of $15.95 and a one year high of $22.75. The company has a market cap of $854.62, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 2.96 and a beta of 1.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.03 and a quick ratio of 0.26.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its holdings in shares of Sonic Automotive by 7.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,515 shares of the company’s stock worth $185,000 after purchasing an additional 624 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Sonic Automotive in the 3rd quarter worth approximately $260,000. BNP Paribas Arbitrage SA raised its holdings in shares of Sonic Automotive by 53.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 14,385 shares of the company’s stock worth $293,000 after purchasing an additional 5,026 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Sonic Automotive by 14.1% in the 2nd quarter. Voya Investment Management LLC now owns 14,478 shares of the company’s stock worth $282,000 after purchasing an additional 1,790 shares in the last quarter. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Sonic Automotive in the 4th quarter worth approximately $271,000. Institutional investors and hedge funds own 62.96% of the company’s stock.
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Sonic Automotive Company Profile
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.
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