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

by · The Markets Daily

Sonic Automotive, Inc. (NYSE:SAHGet Free Report) has been assigned an average rating of “Hold” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $97.8889.

SAH has been the topic of several analyst reports. Citigroup increased their price target on Sonic Automotive from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Bank of America boosted their price objective on shares of Sonic Automotive from $91.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Weiss Ratings raised shares of Sonic Automotive from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Stephens set a $89.00 target price on shares of Sonic Automotive in a research note on Monday, July 13th. Finally, UBS Group raised their target price on shares of Sonic Automotive from $90.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, July 10th.

Get Our Latest Report on Sonic Automotive

Sonic Automotive Stock Performance

Shares of NYSE SAH opened at $80.68 on Monday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.25 and a current ratio of 1.01. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.29 and a beta of 0.86. The business’s 50-day simple moving average is $88.65 and its 200-day simple moving average is $75.46. Sonic Automotive has a 52 week low of $54.11 and a 52 week high of $113.67.

Sonic Automotive (NYSE:SAHGet Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. Sonic Automotive had a return on equity of 20.75% and a net margin of 1.37%.The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the business earned $2.19 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts expect that Sonic Automotive will post 6.95 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, September 15th. Sonic Automotive’s dividend payout ratio is 26.16%.

Insider Activity

In other news, President Jeff Dyke sold 35,114 shares of Sonic Automotive stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $85.22, for a total value of $2,992,415.08. Following the transaction, the president directly owned 543,668 shares in the company, valued at approximately $46,331,386.96. The trade was a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,000 shares of company stock valued at $8,408,160 over the last 90 days. Company insiders own 43.68% of the company’s stock.

Hedge Funds Weigh In On Sonic Automotive

Large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in Sonic Automotive by 992.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock valued at $35,000 after purchasing an additional 397 shares during the period. Camelot Portfolios LLC bought a new position in Sonic Automotive in the 4th quarter worth approximately $41,000. Torren Management LLC bought a new position in Sonic Automotive in the 4th quarter worth approximately $50,000. National Bank of Canada FI acquired a new position in shares of Sonic Automotive during the third quarter worth approximately $78,000. Finally, State of Wyoming acquired a new position in shares of Sonic Automotive during the first quarter worth approximately $79,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Company Profile

(Get Free Report)

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.

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