Sonic Automotive, Inc. (NYSE:SAH) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $90.6667.

Several analysts have weighed in on SAH shares. Bank of America boosted their price target on Sonic Automotive from $91.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Stephens set a $89.00 price objective on shares of Sonic Automotive in a report on Monday, July 13th. Weiss Ratings upgraded Sonic Automotive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Sonic Automotive in a research note on Tuesday, March 31st. Finally, Zacks Research raised shares of Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th.

Insider Activity

In related news, President Jeff Dyke sold 35,114 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $85.22, for a total transaction of $2,992,415.08. Following the transaction, the president owned 543,668 shares of the company’s stock, valued at approximately $46,331,386.96. This represents a 6.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 100,000 shares of company stock valued at $8,408,160. 43.68% of the stock is currently owned by insiders.

Institutional Trading of Sonic Automotive

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its position in Sonic Automotive by 992.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock worth $35,000 after buying an additional 397 shares during the period. Camelot Portfolios LLC purchased a new stake in Sonic Automotive in the 4th quarter valued at approximately $41,000. Torren Management LLC acquired a new position in Sonic Automotive during the fourth quarter worth $50,000. National Bank of Canada FI purchased a new position in shares of Sonic Automotive in the 3rd quarter valued at about $78,000. Finally, State of Wyoming purchased a new position in Sonic Automotive in the first quarter valued at about $79,000. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Trading Up 2.9%

SAH stock opened at $102.71 on Thursday. The firm’s 50-day moving average is $86.38 and its 200 day moving average is $72.94. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.03 and a quick ratio of 0.29. Sonic Automotive has a 12 month low of $54.11 and a 12 month high of $104.30. The company has a market capitalization of $3.25 billion, a PE ratio of 32.71, a P/E/G ratio of 1.53 and a beta of 0.89.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.22. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Sonic Automotive had a net margin of 0.72% and a return on equity of 22.45%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. On average, research analysts anticipate that Sonic Automotive will post 6.93 EPS for the current year.

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were given a $0.41 dividend. This is an increase from Sonic Automotive’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, June 15th. Sonic Automotive’s dividend payout ratio (DPR) is presently 52.23%.

Sonic Automotive Company Profile

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.