Sonic Automotive, Inc. (NYSE:SAH) Given Average Rating of “Hold” by Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAHGet Free Report) have been assigned a consensus recommendation of “Hold” from the four ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $56.60.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Sonic Automotive from $48.00 to $53.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, March 6th. Morgan Stanley increased their price target on Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Finally, Bank of America upgraded Sonic Automotive from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $68.00 in a report on Friday, April 26th.

View Our Latest Analysis on Sonic Automotive

Insider Activity

In other Sonic Automotive news, President Jeff Dyke sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $56.76, for a total transaction of $851,400.00. Following the transaction, the president now directly owns 161,622 shares in the company, valued at approximately $9,173,664.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Jeff Dyke sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $56.76, for a total value of $851,400.00. Following the completion of the sale, the president now directly owns 161,622 shares of the company’s stock, valued at $9,173,664.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Bruton Smith sold 3,861 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.43, for a total transaction of $237,181.23. Following the transaction, the chief executive officer now owns 583,054 shares in the company, valued at $35,817,007.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,355 shares of company stock valued at $7,521,404. Corporate insiders own 40.95% of the company’s stock.

Hedge Funds Weigh In On Sonic Automotive

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in Sonic Automotive during the 1st quarter valued at $30,000. TFO Wealth Partners LLC boosted its position in Sonic Automotive by 35,366.7% during the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock valued at $120,000 after purchasing an additional 2,122 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sonic Automotive by 16.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,132 shares of the company’s stock valued at $176,000 after purchasing an additional 447 shares during the last quarter. Quest Partners LLC bought a new position in Sonic Automotive in the fourth quarter worth about $185,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Sonic Automotive during the fourth quarter valued at about $218,000. Institutional investors own 46.92% of the company’s stock.

Sonic Automotive Trading Down 1.4 %

Shares of NYSE SAH opened at $56.54 on Friday. Sonic Automotive has a 1-year low of $41.19 and a 1-year high of $64.68. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.35. The business’s 50 day moving average is $55.37 and its two-hundred day moving average is $53.92. The stock has a market capitalization of $1.92 billion, a P/E ratio of 11.59 and a beta of 1.71.

Sonic Automotive (NYSE:SAHGet Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.06. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. Sonic Automotive had a return on equity of 27.46% and a net margin of 1.21%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. As a group, research analysts expect that Sonic Automotive will post 5.86 EPS for the current year.

Sonic Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. Sonic Automotive’s dividend payout ratio is currently 24.59%.

Sonic Automotive Company Profile

(Get Free Report

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.

Further Reading

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