Seaport Res Ptn Upgrades Sonic Automotive (NYSE:SAH) to Strong-Buy

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

SAH has been the subject of a number of other research reports. Needham & Company LLC increased their price target on Sonic Automotive from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Morgan Stanley upgraded Sonic Automotive from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $40.00 to $58.00 in a research report on Wednesday, September 25th. Bank of America lowered their price target on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Stephens initiated coverage on shares of Sonic Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sonic Automotive presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.40.

Sonic Automotive Stock Performance

SAH opened at $66.57 on Thursday. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $67.15. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 11.85 and a beta of 1.61. 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 company’s 50 day moving average is $58.72 and its 200 day moving average is $57.84.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.17). The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $2.02 earnings per share. On average, equities research analysts predict that Sonic Automotive will post 5.63 EPS for the current year.

Hedge Funds Weigh In On Sonic Automotive

Institutional investors and hedge funds have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its holdings in Sonic Automotive by 85.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 8,298 shares of the company’s stock valued at $451,000 after buying an additional 3,820 shares during the period. Price T Rowe Associates Inc. MD increased its position in Sonic Automotive by 3.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,806 shares of the company’s stock valued at $730,000 after acquiring an additional 458 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Sonic Automotive by 12.6% in the first quarter. Westwood Holdings Group Inc. now owns 630,450 shares of the company’s stock valued at $35,898,000 after acquiring an additional 70,540 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Sonic Automotive by 270.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 24,652 shares of the company’s stock worth $1,343,000 after acquiring an additional 17,989 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Sonic Automotive during the 2nd quarter worth about $41,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Company Profile

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.