Sonic Automotive, Inc. (NYSE:SAH) Receives Average Recommendation of “Hold” from Brokerages

Shares of Sonic Automotive, Inc. (NYSE:SAH) have received a consensus recommendation of “Hold” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $79.6250.

A number of equities analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Sonic Automotive in a research note on Monday, December 29th. Citigroup upgraded Sonic Automotive from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. lowered their price objective on Sonic Automotive from $70.00 to $67.00 and set an “underweight” rating on the stock in a research report on Friday, January 16th. Morgan Stanley set a $68.00 price objective on shares of Sonic Automotive in a research note on Monday, December 8th. Finally, Zacks Research upgraded shares of Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th.

Sonic Automotive Trading Up 0.7%

Sonic Automotive stock opened at $61.71 on Thursday. The company has a quick ratio of 0.27, a current ratio of 1.02 and a debt-to-equity ratio of 1.68. Sonic Automotive has a 52 week low of $52.00 and a 52 week high of $89.62. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 16.68 and a beta of 0.92. The stock has a 50-day moving average price of $63.41 and a 200 day moving average price of $70.72.

Institutional Trading of Sonic Automotive

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its stake in Sonic Automotive by 992.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock worth $35,000 after buying an additional 397 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Sonic Automotive in the third quarter worth approximately $63,000. National Bank of Canada FI purchased a new stake in shares of Sonic Automotive during the third quarter worth approximately $78,000. CoreCap Advisors LLC acquired a new position in Sonic Automotive in the 3rd quarter valued at $109,000. Finally, Raymond James Financial Inc. purchased a new position in Sonic Automotive in the 2nd quarter valued at $168,000. Hedge funds and other institutional investors own 46.92% of the company’s stock.

About Sonic Automotive

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.