Sonic Automotive (NYSE:SAH – Get Rating) had its price objective cut by research analysts at Morgan Stanley from $40.00 to $33.00 in a report issued on Thursday, The Fly reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 9.79% from the company’s current price.
A number of other analysts also recently issued reports on SAH. JPMorgan Chase & Co. downgraded Sonic Automotive from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $70.00 to $57.00 in a research report on Thursday, April 7th. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a report on Friday, June 17th. Finally, Seaport Res Ptn cut Sonic Automotive from a “buy” rating to a “neutral” rating in a report on Friday, April 29th.
Sonic Automotive Stock Up 4.1 %
Shares of NYSE:SAH opened at $36.58 on Thursday. The business has a 50-day moving average price of $41.11 and a 200 day moving average price of $45.41. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 3.99 and a beta of 2.07. Sonic Automotive has a 12-month low of $34.17 and a 12-month high of $58.00.
Sonic Automotive (NYSE:SAH – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.12). The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.70 billion. Sonic Automotive had a return on equity of 39.37% and a net margin of 2.97%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 earnings per share. Sell-side analysts expect that Sonic Automotive will post 10.13 EPS for the current year.
Hedge Funds Weigh In On Sonic Automotive
Several hedge funds and other institutional investors have recently made changes to their positions in SAH. Point72 Hong Kong Ltd purchased a new position in shares of Sonic Automotive in the 1st quarter valued at about $26,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Sonic Automotive in the 4th quarter valued at about $27,000. Pinebridge Investments L.P. purchased a new position in shares of Sonic Automotive in the 4th quarter valued at about $45,000. Islay Capital Management LLC boosted its stake in shares of Sonic Automotive by 66.5% in the 4th quarter. Islay Capital Management LLC now owns 3,871 shares of the company’s stock valued at $191,000 after buying an additional 1,546 shares during the period. Finally, Valley National Advisers Inc. raised its position in shares of Sonic Automotive by 13.7% during the 1st quarter. Valley National Advisers Inc. now owns 4,595 shares of the company’s stock worth $196,000 after acquiring an additional 555 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.
Sonic Automotive Company Profile
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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.
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