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.
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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