Sonic Automotive Inc (SAH) Given Average Rating of “Hold” by Brokerages

Shares of Sonic Automotive Inc (NYSE:SAH) have been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $22.75.

A number of brokerages recently weighed in on SAH. Zacks Investment Research raised shares of Sonic Automotive from a “sell” rating to a “hold” rating and set a $23.00 price target for the company in a report on Tuesday, January 9th. Bank of America raised shares of Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 price target for the company in a report on Monday, January 8th. ValuEngine raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, TheStreet raised shares of Sonic Automotive from a “c+” rating to a “b” rating in a report on Wednesday, October 18th.

Shares of Sonic Automotive (NYSE SAH) opened at $22.35 on Tuesday. The firm has a market cap of $965.42, a P/E ratio of 14.33, a PEG ratio of 3.46 and a beta of 1.57. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.26 and a current ratio of 1.06. Sonic Automotive has a fifty-two week low of $15.95 and a fifty-two week high of $27.45.

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

In other Sonic Automotive news, CFO Heath Byrd sold 11,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 143,306 shares of the company’s stock, valued at $2,927,741.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeff Dyke sold 8,551 shares of the firm’s 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 company insiders.

A number of hedge funds have recently made changes to their positions in the business. Boothbay Fund Management LLC bought a new position in shares of Sonic Automotive during the third quarter worth $992,000. Jane Street Group LLC bought a new position in shares of Sonic Automotive during the third quarter worth $260,000. Schwab Charles Investment Management Inc. boosted its position in shares of Sonic Automotive by 11.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 397,632 shares of the company’s stock worth $7,734,000 after purchasing an additional 41,219 shares in the last quarter. Proxima Capital Management LLC boosted its position in shares of Sonic Automotive by 44.8% during the second quarter. Proxima Capital Management LLC now owns 166,500 shares of the company’s stock worth $3,238,000 after purchasing an additional 51,500 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Sonic Automotive during the third quarter worth $351,000. 64.40% of the stock is currently owned by hedge funds and other institutional investors.

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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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