Sonic Automotive, Inc. (NYSE:SAH) Receives Consensus Rating of “Moderate Buy” from Analysts

Sonic Automotive, Inc. (NYSE:SAH) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $63.50.

A number of equities analysts have recently issued reports on SAH shares. Needham & Company LLC started coverage on Sonic Automotive in a research note on Tuesday, August 20th. They set a “buy” rating and a $73.00 target price for the company. Bank of America cut their target price on Sonic Automotive from $68.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Stephens started coverage on Sonic Automotive in a research note on Thursday. They set an “equal weight” rating and a $64.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th.

Sonic Automotive Stock Up 2.9 %

Shares of NYSE SAH opened at $55.96 on Monday. Sonic Automotive has a 52-week low of $41.19 and a 52-week high of $64.68. The business has a 50-day moving average price of $58.15 and a 200 day moving average price of $56.01. The company has a quick ratio of 0.36, a current ratio of 1.10 and a debt-to-equity ratio of 2.04. The stock has a market cap of $1.90 billion, a PE ratio of 11.47 and a beta of 1.61.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Monday, August 5th. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.09. Sonic Automotive had a return on equity of 25.31% and a net margin of 1.35%. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period last year, the firm earned $1.83 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts forecast that Sonic Automotive will post 5.79 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, September 13th. Sonic Automotive’s payout ratio is 24.59%.

Insider Transactions at Sonic Automotive

In related news, CFO Heath Byrd sold 19,827 shares of Sonic Automotive stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $60.00, for a total value of $1,189,620.00. Following the transaction, the chief financial officer now owns 173,618 shares in the company, valued at $10,417,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 40.95% of the company’s stock.

Institutional Trading of Sonic Automotive

A number of hedge funds and other institutional investors have recently modified their holdings of SAH. Allspring Global Investments Holdings LLC bought a new stake in Sonic Automotive in the first quarter valued at about $30,000. Innealta Capital LLC bought a new stake in Sonic Automotive in the second quarter valued at about $41,000. AM Squared Ltd bought a new stake in Sonic Automotive in the second quarter valued at about $82,000. TFO Wealth Partners LLC increased its holdings in Sonic Automotive by 35,366.7% in the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock valued at $120,000 after buying an additional 2,122 shares during the last quarter. Finally, Point72 DIFC Ltd increased its holdings in Sonic Automotive by 6.9% in the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after buying an additional 187 shares during the last quarter. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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 for its guests.