Sonic Automotive, Inc. (NYSE:SAH) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAHGet Rating) have received an average rating of “Hold” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and two have issued a hold rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $50.33.

A number of equities analysts have recently weighed in on SAH shares. JPMorgan Chase & Co. lowered their price target on Sonic Automotive from $51.00 to $47.00 in a report on Friday, July 15th. Morgan Stanley lowered their target price on Sonic Automotive from $40.00 to $33.00 and set an “underweight” rating for the company in a report on Thursday, July 14th. StockNews.com cut Sonic Automotive from a “buy” rating to a “hold” rating in a report on Friday, July 15th. Finally, Benchmark lowered their target price on Sonic Automotive to $71.00 in a report on Tuesday, August 9th.

Sonic Automotive Stock Performance

NYSE SAH opened at $53.19 on Thursday. The stock has a market cap of $2.09 billion, a PE ratio of 6.00 and a beta of 2.05. The company has a current ratio of 1.10, a quick ratio of 0.44 and a debt-to-equity ratio of 1.39. Sonic Automotive has a twelve month low of $34.17 and a twelve month high of $59.19. The stock has a fifty day simple moving average of $43.60 and a 200-day simple moving average of $44.96.

Sonic Automotive (NYSE:SAHGet Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $2.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.55 by ($0.10). The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Sonic Automotive had a return on equity of 36.00% and a net margin of 2.76%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.63 earnings per share. Equities analysts anticipate that Sonic Automotive will post 9.94 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Wednesday, September 14th. Sonic Automotive’s payout ratio is presently 11.27%.

Insider Activity

In other news, CEO David Bruton Smith sold 54,670 shares of Sonic Automotive stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $55.60, for a total value of $3,039,652.00. Following the completion of the transaction, the chief executive officer now owns 467,856 shares in the company, valued at approximately $26,012,793.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO David Bruton Smith sold 54,670 shares of Sonic Automotive stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $55.60, for a total value of $3,039,652.00. Following the completion of the transaction, the chief executive officer now owns 467,856 shares in the company, valued at approximately $26,012,793.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Heath Byrd sold 93,714 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $41.27, for a total value of $3,867,576.78. Following the sale, the chief financial officer now directly owns 146,600 shares in the company, valued at approximately $6,050,182. The disclosure for this sale can be found here. In the last quarter, insiders sold 176,580 shares of company stock worth $8,110,352. 36.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sonic Automotive

Several hedge funds and other institutional investors have recently made changes to their positions in SAH. Point72 Hong Kong Ltd acquired a new stake in shares of Sonic Automotive during the 1st quarter worth about $26,000. Pinebridge Investments L.P. acquired a new position in Sonic Automotive during the fourth quarter worth approximately $45,000. Counterpoint Mutual Funds LLC acquired a new position in Sonic Automotive during the second quarter worth approximately $96,000. SeaCrest Wealth Management LLC acquired a new position in Sonic Automotive during the second quarter worth approximately $97,000. Finally, EMC Capital Management increased its position in Sonic Automotive by 51.7% during the second quarter. EMC Capital Management now owns 4,044 shares of the company’s stock worth $148,000 after buying an additional 1,378 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

About Sonic Automotive

(Get Rating)

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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.

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