Shares of Sonic Automotive, Inc. (NYSE:SAH) have received an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $23.67.
SAH has been the topic of several research reports. ValuEngine downgraded shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. TheStreet downgraded shares of Sonic Automotive from a “b” rating to a “c+” rating in a research note on Tuesday, May 30th. Jefferies Group LLC reiterated a “hold” rating and set a $22.00 price objective on shares of Sonic Automotive in a research note on Friday. Bank of America Corporation downgraded shares of Sonic Automotive from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research note on Thursday, February 23rd. Finally, Morgan Stanley reduced their price objective on shares of Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, June 9th.
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In other news, insider O Bruton Smith acquired 19,273 shares of Sonic Automotive stock in a transaction on Wednesday, May 3rd. The shares were purchased at an average cost of $18.55 per share, for a total transaction of $357,514.15. Following the completion of the purchase, the insider now directly owns 676,609 shares of the company’s stock, valued at approximately $12,551,096.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director R Eugene Taylor acquired 5,000 shares of Sonic Automotive stock in a transaction on Monday, March 20th. The shares were purchased at an average price of $20.51 per share, for a total transaction of $102,550.00. Following the completion of the purchase, the director now directly owns 12,242 shares of the company’s stock, valued at $251,083.42. The disclosure for this purchase can be found here. Insiders have acquired 124,273 shares of company stock worth $2,474,064 over the last quarter. Corporate insiders own 30.29% of the company’s stock.
A number of large investors have recently made changes to their positions in SAH. Public Employees Retirement System of Ohio increased its stake in shares of Sonic Automotive by 4.8% in the first quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock worth $178,000 after buying an additional 410 shares during the last quarter. State Street Corp increased its stake in shares of Sonic Automotive by 8.2% in the first quarter. State Street Corp now owns 823,177 shares of the company’s stock worth $16,501,000 after buying an additional 62,209 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Sonic Automotive by 23.8% in the first quarter. Bank of America Corp DE now owns 118,715 shares of the company’s stock worth $2,381,000 after buying an additional 22,812 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Sonic Automotive by 12.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 356,413 shares of the company’s stock worth $7,147,000 after buying an additional 39,514 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new stake in shares of Sonic Automotive during the first quarter worth about $227,000. Hedge funds and other institutional investors own 63.83% of the company’s stock.
Shares of Sonic Automotive (SAH) traded down 7.95% during mid-day trading on Monday, hitting $17.95. 438,221 shares of the stock traded hands. Sonic Automotive has a one year low of $16.08 and a one year high of $27.45. The company’s 50 day moving average is $18.89 and its 200 day moving average is $21.15. The firm has a market capitalization of $807.59 million, a P/E ratio of 10.42 and a beta of 1.46.
Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Wednesday, April 26th. The company reported $0.23 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. Sonic Automotive had a net margin of 0.80% and a return on equity of 12.03%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the company posted $0.39 earnings per share. Sonic Automotive’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts expect that Sonic Automotive will post $2.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.12%. Sonic Automotive’s payout ratio is 11.63%.
Sonic Automotive Company Profile
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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