Sonic Automotive (NYSE:SAH) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Sonic Automotive from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Bank of America downgraded shares of Sonic Automotive from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 19th. KeyCorp restated a “hold” rating on shares of Sonic Automotive in a research report on Friday, September 1st. TheStreet upgraded shares of Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, October 18th. Finally, BidaskClub downgraded shares of Sonic Automotive from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.67.

Shares of Sonic Automotive (NYSE:SAH) traded up $0.15 during mid-day trading on Friday, reaching $21.40. 166,697 shares of the company’s stock traded hands, compared to its average volume of 200,633. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.26. The firm has a market capitalization of $917.89, a P/E ratio of 12.57, a PEG ratio of 3.88 and a beta of 1.56. Sonic Automotive has a 1 year low of $15.95 and a 1 year high of $27.45.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.54 billion. Sonic Automotive had a net margin of 0.70% and a return on equity of 10.47%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. research analysts forecast that Sonic Automotive will post 1.82 earnings per share for the current fiscal year.

In other news, CFO Heath Byrd sold 11,000 shares of Sonic Automotive stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $20.43, for a total value of $224,730.00. Following the completion of the sale, the chief financial officer now directly owns 143,306 shares in the company, valued at $2,927,741.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jeff Dyke sold 8,551 shares of Sonic Automotive stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $20.10, for a total transaction of $171,875.10. Following the completion of the transaction, the executive vice president now directly owns 1,262,056 shares in the company, valued at $25,367,325.60. The disclosure for this sale can be found here. 30.29% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its stake in Sonic Automotive by 78.3% in the second quarter. State of Alaska Department of Revenue now owns 5,153 shares of the company’s stock valued at $100,000 after acquiring an additional 2,263 shares during the last quarter. Victory Capital Management Inc. increased its stake in Sonic Automotive by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,854 shares of the company’s stock valued at $114,000 after acquiring an additional 878 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Sonic Automotive by 4.8% in the first quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock valued at $178,000 after acquiring an additional 410 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Sonic Automotive by 48.8% in the second quarter. BNP Paribas Arbitrage SA now owns 9,359 shares of the company’s stock valued at $182,000 after acquiring an additional 3,068 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in Sonic Automotive in the second quarter valued at approximately $203,000. 64.31% of the stock is currently owned by institutional investors and hedge funds.

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Sonic Automotive Company Profile

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.

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Analyst Recommendations for Sonic Automotive (NYSE:SAH)

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