Sonic Automotive Inc (NYSE:SAH) has been assigned a consensus rating of “Hold” from the five research firms that are currently covering the firm. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $24.00.
A number of analysts have weighed in on SAH shares. Bank of America Corp downgraded shares of Sonic Automotive from a “buy” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Thursday, February 23rd. Zacks Investment Research raised shares of Sonic Automotive from a “sell” rating to a “hold” rating in a report on Wednesday, December 21st. Jefferies Group LLC reissued a “neutral” rating on shares of Sonic Automotive in a report on Friday, February 24th. Finally, CL King downgraded shares of Sonic Automotive from a “buy” rating to a “neutral” rating in a report on Tuesday, January 10th.
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Sonic Automotive (NYSE:SAH) traded down 1.73% on Monday, reaching $19.85. 183,716 shares of the company’s stock traded hands. The stock has a market capitalization of $890.97 million, a PE ratio of 9.77 and a beta of 1.58. Sonic Automotive has a 52-week low of $16.08 and a 52-week high of $27.45. The firm’s 50-day moving average is $22.05 and its 200 day moving average is $20.87.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Tuesday, February 21st. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Sonic Automotive had a net margin of 0.90% and a return on equity of 13.54%. The firm earned $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the firm earned $0.61 EPS. The business’s revenue was up 3.5% on a year-over-year basis. Analysts forecast that Sonic Automotive will post $2.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Monday, March 13th. Sonic Automotive’s payout ratio is 10.93%.
In other Sonic Automotive news, insider O Bruton Smith acquired 100,000 shares of Sonic Automotive stock in a transaction dated Tuesday, March 21st. The stock was bought at an average cost of $20.14 per share, with a total value of $2,014,000.00. Following the acquisition, the insider now owns 578,494 shares of the company’s stock, valued at $11,650,869.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Eugene Taylor acquired 5,000 shares of Sonic Automotive stock in a transaction dated Monday, March 20th. The shares were acquired at an average cost of $20.51 per share, with a total value of $102,550.00. Following the completion of the acquisition, the director now directly owns 12,242 shares in the company, valued at approximately $251,083.42. The disclosure for this purchase can be found here. 29.32% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in SAH. Citadel Advisors LLC acquired a new position in Sonic Automotive during the third quarter worth approximately $7,761,000. Elliott Management Corp increased its position in Sonic Automotive by 67.4% in the fourth quarter. Elliott Management Corp now owns 784,904 shares of the company’s stock worth $17,974,000 after buying an additional 315,999 shares during the last quarter. Towle & Co. increased its position in Sonic Automotive by 27.5% in the third quarter. Towle & Co. now owns 865,560 shares of the company’s stock worth $16,273,000 after buying an additional 186,620 shares during the last quarter. RidgeWorth Capital Management LLC increased its position in Sonic Automotive by 8.2% in the fourth quarter. RidgeWorth Capital Management LLC now owns 1,833,108 shares of the company’s stock worth $42,067,000 after buying an additional 138,294 shares during the last quarter. Finally, Formula Growth Ltd. increased its position in Sonic Automotive by 45.6% in the third quarter. Formula Growth Ltd. now owns 429,550 shares of the company’s stock worth $8,076,000 after buying an additional 134,550 shares during the last quarter. 65.90% of the stock is owned by institutional investors.
About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. The Company’s Franchised Dealerships segment consists of traditional retail automotive franchises that sell new and used vehicles, replacement parts and vehicle repair and maintenance services, and finance and insurance products.
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