Sonic Automotive (NYSE:SAH) Sets New 52-Week High – Still a Buy?

Sonic Automotive, Inc. (NYSE:SAH) reached a new 52-week high during trading on Wednesday . The stock traded as high as $72.90 and last traded at $69.55, with a volume of 675 shares traded. The stock had previously closed at $70.08.

Wall Street Analyst Weigh In

SAH has been the subject of a number of recent analyst reports. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and set a $74.00 price objective on shares of Sonic Automotive in a research report on Thursday, January 16th. 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. Finally, JPMorgan Chase & Co. cut their price objective on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.20.

Sonic Automotive Trading Up 1.3 %

The company has a market capitalization of $2.36 billion, a P/E ratio of 12.31 and a beta of 1.67. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11. The stock has a fifty day moving average of $65.93 and a 200 day moving average of $60.82.

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 the consensus estimate of $3.55 billion. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $2.02 EPS. As a group, equities research analysts anticipate that Sonic Automotive, Inc. will post 5.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Sonic Automotive

Several large investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Sonic Automotive in the fourth quarter worth $72,000. SG Americas Securities LLC purchased a new stake in Sonic Automotive in the 4th quarter worth $244,000. Harbor Capital Advisors Inc. increased its stake in Sonic Automotive by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company’s stock worth $3,570,000 after buying an additional 978 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sonic Automotive by 68.6% in the third quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock valued at $3,113,000 after acquiring an additional 21,650 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Sonic Automotive by 6.7% in the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company’s stock worth $530,000 after acquiring an additional 609 shares during the period. Hedge funds and other institutional investors own 46.92% of the company’s stock.

About Sonic Automotive

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.