Sonic Automotive (SAH) Price Target Increased to $25.00 by Analysts at Morgan Stanley
Sonic Automotive (NYSE:SAH) had its target price boosted by equities researchers at Morgan Stanley from $23.00 to $25.00 in a report released on Wednesday. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 24.38% from the company’s previous close.
SAH has been the subject of a number of other research reports. ValuEngine raised Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Bank of America raised Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 price objective for the company in a research note on Monday, January 8th. Finally, Zacks Investment Research raised Sonic Automotive from a “sell” rating to a “hold” rating and set a $23.00 price target for the company in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.25.
Sonic Automotive (NYSE:SAH) traded up $0.11 during trading hours on Wednesday, hitting $20.10. The stock had a trading volume of 20,712 shares, compared to its average volume of 298,083. The stock has a market capitalization of $854.62, a price-to-earnings ratio of 9.48, a PEG ratio of 2.96 and a beta of 1.60. Sonic Automotive has a 52-week low of $15.95 and a 52-week high of $22.75. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.26 and a current ratio of 1.03.
A number of hedge funds have recently made changes to their positions in SAH. Public Employees Retirement System of Ohio lifted its stake in Sonic Automotive by 7.0% in the second quarter. Public Employees Retirement System of Ohio now owns 9,515 shares of the company’s stock worth $185,000 after acquiring an additional 624 shares during the period. Jane Street Group LLC purchased a new stake in Sonic Automotive in the third quarter worth $260,000. MetLife Investment Advisors LLC purchased a new stake in Sonic Automotive in the fourth quarter worth $271,000. Voya Investment Management LLC lifted its stake in Sonic Automotive by 14.1% in the second quarter. Voya Investment Management LLC now owns 14,478 shares of the company’s stock worth $282,000 after acquiring an additional 1,790 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in Sonic Automotive by 53.7% in the third quarter. BNP Paribas Arbitrage SA now owns 14,385 shares of the company’s stock worth $293,000 after acquiring an additional 5,026 shares during the period. 62.96% of the stock is owned by institutional investors.
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About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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