Sonic Automotive (NYSE:SAH) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Sonic Automotive (NYSE:SAH) in a research note issued on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $90.00 price target on the stock. UBS Group’s price objective indicates a potential upside of 6.77% from the company’s previous close.

SAH has been the subject of several other reports. Zacks Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. lifted their target price on shares of Sonic Automotive from $67.00 to $77.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Barclays upped their target price on shares of Sonic Automotive from $67.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Sonic Automotive in a research note on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sonic Automotive in a research note on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.00.

Sonic Automotive Price Performance

Shares of Sonic Automotive stock traded up $5.61 on Wednesday, reaching $84.30. The company’s stock had a trading volume of 17,084 shares, compared to its average volume of 282,259. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $2.66 billion, a P/E ratio of 26.84, a PEG ratio of 1.66 and a beta of 0.89. The stock has a 50-day moving average price of $70.36 and a 200-day moving average price of $65.37. Sonic Automotive has a 52-week low of $54.11 and a 52-week high of $89.62.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.22. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Sonic Automotive had a net margin of 0.72% and a return on equity of 22.45%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.48 EPS. Analysts expect that Sonic Automotive will post 6.8 EPS for the current year.

Institutional Trading of Sonic Automotive

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in Sonic Automotive by 124.9% during the first quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company’s stock worth $20,239,000 after buying an additional 197,336 shares during the period. Heartland Advisors Inc. purchased a new position in Sonic Automotive in the 1st quarter valued at about $8,450,000. Bridgeway Capital Management LLC purchased a new position in shares of Sonic Automotive during the fourth quarter valued at approximately $7,384,000. Qube Research & Technologies Ltd purchased a new stake in Sonic Automotive in the 3rd quarter worth approximately $7,450,000. Finally, Vanguard Group Inc. raised its holdings in Sonic Automotive by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,646,450 shares of the company’s stock valued at $125,278,000 after acquiring an additional 96,836 shares during the last quarter. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Sonic Automotive Company Profile

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.