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Sonic Automotive (NYSE:SAH) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Wednesday. They currently have a $23.90 target price on the stock. Zacks‘s target price points to a potential downside of 5.12% from the company’s current price.

Sonic Automotive (NYSE:SAH) traded down 0.60% during mid-day trading on Wednesday, hitting $25.04. The stock had a trading volume of 54,538 shares. Sonic Automotive has a 1-year low of $21.05 and a 1-year high of $27.87. The stock’s 50-day moving average is $24.81 and its 200-day moving average is $24.70. The company has a market cap of $1.318 billion and a P/E ratio of 13.68.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.53 by $0.02. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts predict that Sonic Automotive will post $1.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, September 11th.

Several other analysts have also recently commented on the stock. Analysts at Bank of America downgraded shares of Sonic Automotive from a “buy” rating to an “underperform” rating in a research note on Tuesday, July 22nd. They now have a $27.00 price target on the stock, down previously from $39.00. Analysts at Goldman Sachs downgraded shares of Sonic Automotive from a “neutral” rating to a “sell” rating in a research note on Friday, June 20th. They now have a $22.00 price target on the stock, down previously from $23.00. Three analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The company currently has an average rating of “Sell” and a consensus price target of $22.98.

Sonic Automotive, Inc (NYSE:SAH) is engaged in automotive retailing in the United States.

To view Zacks’ full report, visit Zacks’ official website.

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