Sonic Automotive (NYSE:SAH) Sets New 12-Month High – Time to Buy?

Sonic Automotive, Inc. (NYSE:SAH) reached a new 52-week high during trading on Tuesday . The company traded as high as $72.67 and last traded at $72.53, with a volume of 166070 shares changing hands. The stock had previously closed at $71.10.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SAH shares. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $74.00 target price on shares of Sonic Automotive in a research report on Thursday, January 16th. JPMorgan Chase & Co. dropped their target price on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Bank of America dropped their target price on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.20.

Sonic Automotive Price Performance

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 company has a market capitalization of $2.48 billion, a PE ratio of 12.91 and a beta of 1.67. The company’s 50-day simple moving average is $66.26 and its 200-day simple moving average is $61.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd purchased a new position in Sonic Automotive during the 4th quarter worth $72,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Sonic Automotive by 100.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after acquiring an additional 599 shares during the period. Point72 DIFC Ltd lifted its stake in shares of Sonic Automotive by 6.9% in the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock worth $158,000 after acquiring an additional 187 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Sonic Automotive in the 4th quarter worth $244,000. Finally, MQS Management LLC acquired a new stake in shares of Sonic Automotive in the 3rd quarter worth $394,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

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.