ValuEngine Lowers Sonic Automotive (SAH) to Strong Sell

Sonic Automotive (NYSE:SAH) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

SAH has been the topic of a number of other reports. Stephens reiterated a “hold” rating and issued a $19.00 price target on shares of Sonic Automotive in a report on Friday, July 27th. Morgan Stanley cut their price target on Sonic Automotive from $19.00 to $16.00 and set a “sell” rating on the stock in a report on Wednesday, August 15th. Finally, Zacks Investment Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 18th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Sonic Automotive has an average rating of “Hold” and a consensus price target of $19.40.

SAH opened at $16.39 on Wednesday. The firm has a market cap of $692.12 million, a price-to-earnings ratio of 8.86, a PEG ratio of 3.64 and a beta of 1.60. Sonic Automotive has a 52 week low of $16.19 and a 52 week high of $23.60. The company has a current ratio of 1.03, a quick ratio of 0.21 and a debt-to-equity ratio of 1.19.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Thursday, October 25th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.59 billion. Sonic Automotive had a return on equity of 10.27% and a net margin of 0.91%. During the same period last year, the business posted $0.40 EPS. On average, equities research analysts forecast that Sonic Automotive will post 1.94 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Teachers Advisors LLC increased its holdings in shares of Sonic Automotive by 7.8% in the 3rd quarter. Teachers Advisors LLC now owns 49,995 shares of the company’s stock valued at $967,000 after acquiring an additional 3,630 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Sonic Automotive by 12.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 43,573 shares of the company’s stock valued at $903,000 after acquiring an additional 4,900 shares during the period. Globeflex Capital L P increased its holdings in shares of Sonic Automotive by 14.6% in the 2nd quarter. Globeflex Capital L P now owns 40,146 shares of the company’s stock valued at $827,000 after acquiring an additional 5,103 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Sonic Automotive in the 2nd quarter valued at $116,000. Finally, Bank of America Corp DE increased its holdings in shares of Sonic Automotive by 6.5% in the 2nd quarter. Bank of America Corp DE now owns 117,291 shares of the company’s stock valued at $2,417,000 after acquiring an additional 7,175 shares during the period. Institutional investors and hedge funds own 62.73% 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 Pre-Owned Stores. 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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