Sonic Automotive, Inc. (NYSE:SAH) was downgraded by research analysts at Bank of America Corporation from a “neutral” rating to an “underperform” rating in a research report issued on Thursday, MarketBeat reports.

Several other brokerages also recently weighed in on SAH. Zacks Investment Research upgraded shares of Sonic Automotive from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. BidaskClub cut shares of Sonic Automotive from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. KeyCorp restated a “hold” rating on shares of Sonic Automotive in a research report on Friday, September 1st. Finally, Jefferies Group LLC restated a “hold” rating and set a $22.00 target price on shares of Sonic Automotive in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $21.75.

Sonic Automotive (NYSE:SAH) traded up 2.11% on Thursday, reaching $19.40. The company’s stock had a trading volume of 234,458 shares. The firm’s 50-day moving average price is $19.67 and its 200 day moving average price is $18.86. The company has a market cap of $850.90 million, a P/E ratio of 13.06 and a beta of 1.51. Sonic Automotive has a 52-week low of $15.95 and a 52-week high of $27.45.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Friday, July 28th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06). The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.44 billion. Sonic Automotive had a return on equity of 11.14% and a net margin of 0.69%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 EPS. Equities analysts anticipate that Sonic Automotive will post $1.85 EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of SAH. Russell Investments Group Ltd. lifted its position in Sonic Automotive by 464.6% during the first quarter. Russell Investments Group Ltd. now owns 27,666 shares of the company’s stock valued at $555,000 after acquiring an additional 22,766 shares during the last quarter. Comerica Bank lifted its position in Sonic Automotive by 3.6% during the first quarter. Comerica Bank now owns 29,092 shares of the company’s stock valued at $596,000 after acquiring an additional 1,011 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in Sonic Automotive during the first quarter valued at approximately $243,000. Karp Capital Management Corp purchased a new stake in Sonic Automotive during the first quarter valued at approximately $211,000. Finally, Ameriprise Financial Inc. lifted its position in Sonic Automotive by 3.6% during the first quarter. Ameriprise Financial Inc. now owns 151,236 shares of the company’s stock valued at $3,033,000 after acquiring an additional 5,316 shares during the last quarter. 63.74% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Sonic Automotive (NYSE:SAH)

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