Could be either or both. How many miles are on the car? are the springs original? How old are the shocks? New shocks will help for sure but wont be enough to compensate for worn out sagging springs.
I think it hits the rubber stops on the frame rails. I don't know if the springs are original or not. Car has about 140k miles on it. It used to hit the aftermarket pinion snubber on the highway. After removing it I didn't have the problem until recently. Shocks are KYB and are orange. Previous owner installed them. They could have 60k miles on them.
At 140k new springs wouldnt be a bad idea, since if they are original they are probably pretty well sagged out and weak and 60k on a set of shocks there probly just about at if not over there useful life. but thats just my opinion.