Shares of Sonic Automotive Inc (NYSE:SAH) have been given an average rating of “Hold” by the six analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $39.00.
A number of brokerages recently weighed in on SAH. Morgan Stanley increased their price target on shares of Sonic Automotive from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. increased their target price on Sonic Automotive from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Zacks Investment Research reiterated a “buy” rating on shares of Sonic Automotive in a research note on Thursday, July 2nd. ValuEngine raised Sonic Automotive from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 1st. Finally, Benchmark increased their price target on shares of Sonic Automotive from $27.50 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th.
Shares of NYSE SAH opened at $40.88 on Thursday. The stock has a market cap of $1.74 billion, a PE ratio of -18.01 and a beta of 2.78. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.96. Sonic Automotive has a 52-week low of $9.00 and a 52-week high of $46.50. The business has a 50-day moving average price of $42.34 and a 200 day moving average price of $28.84.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.33. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Sonic Automotive had a positive return on equity of 14.21% and a negative net margin of 0.94%. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. Sell-side analysts anticipate that Sonic Automotive will post 3.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Monday, September 14th. Sonic Automotive’s payout ratio is 15.09%.
In other Sonic Automotive news, CFO Heath Byrd sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.83, for a total value of $816,600.00. Following the transaction, the chief financial officer now directly owns 114,236 shares of the company’s stock, valued at approximately $4,664,255.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Bruton Smith sold 5,999 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $45.00, for a total value of $269,955.00. Following the completion of the transaction, the chief executive officer now directly owns 387,865 shares in the company, valued at $17,453,925. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,445 shares of company stock valued at $3,262,467. 33.01% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in Sonic Automotive by 0.5% during the 2nd quarter. Principal Financial Group Inc. now owns 192,207 shares of the company’s stock worth $6,133,000 after acquiring an additional 918 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Sonic Automotive by 122.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 514,947 shares of the company’s stock valued at $16,432,000 after purchasing an additional 283,608 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Sonic Automotive during the second quarter worth about $277,000. Point72 Hong Kong Ltd bought a new position in shares of Sonic Automotive during the second quarter worth about $299,000. Finally, Bank of America Corp DE grew its stake in Sonic Automotive by 24.8% in the second quarter. Bank of America Corp DE now owns 40,192 shares of the company’s stock worth $1,283,000 after purchasing an additional 7,974 shares in the last quarter. Institutional investors and hedge funds own 61.51% of the company’s stock.
Sonic Automotive Company Profile
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products.
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