Sonic Automotive (SAH) Cut to Hold at ValuEngine

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

A number of other research firms also recently commented on SAH. Zacks Investment Research raised Sonic Automotive from a “sell” rating to a “hold” rating and set a $23.00 target price on the stock in a report on Tuesday, January 9th. Bank of America downgraded Sonic Automotive from a “neutral” rating to an “underperform” rating in a report on Thursday, October 19th. Finally, TheStreet raised Sonic Automotive from a “c+” rating to a “b” rating in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Sonic Automotive has a consensus rating of “Hold” and an average target price of $22.75.

Sonic Automotive (SAH) traded down $1.05 during trading hours on Friday, reaching $20.00. The company’s stock had a trading volume of 351,920 shares, compared to its average volume of 271,065. The company has a current ratio of 1.06, a quick ratio of 0.26 and a debt-to-equity ratio of 1.41. Sonic Automotive has a 52 week low of $15.95 and a 52 week high of $27.45. The company has a market cap of $863.90, a P/E ratio of 11.83, a PEG ratio of 3.15 and a beta of 1.58.

Several hedge funds and other institutional investors have recently made changes to their positions in SAH. JPMorgan Chase & Co. raised its stake in Sonic Automotive by 36.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,068 shares of the company’s stock valued at $1,348,000 after acquiring an additional 17,615 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Sonic Automotive during the 3rd quarter valued at $992,000. Jane Street Group LLC acquired a new position in shares of Sonic Automotive during the 3rd quarter valued at $260,000. First Heartland Consultants Inc. increased its position in shares of Sonic Automotive by 22.8% during the 3rd quarter. First Heartland Consultants Inc. now owns 50,600 shares of the company’s stock valued at $1,032,000 after purchasing an additional 9,400 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Sonic Automotive by 11.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 397,632 shares of the company’s stock valued at $7,734,000 after purchasing an additional 41,219 shares during the period. 64.45% of the stock is currently owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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