Sonic Automotive, Inc. (SAH) Downgraded by BidaskClub
Sonic Automotive, Inc. (NYSE:SAH) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.
Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. TheStreet cut shares of Sonic Automotive from a “b” rating to a “c+” rating in a research report on Tuesday, May 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 price objective on shares of Sonic Automotive in a research report on Wednesday, May 3rd. Finally, Morgan Stanley lowered their price objective on shares of Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $21.75.
Shares of Sonic Automotive (NYSE SAH) traded down 1.18% on Thursday, hitting $16.80. The company’s stock had a trading volume of 44,234 shares. The firm has a market cap of $736.86 million, a price-to-earnings ratio of 11.31 and a beta of 1.51. Sonic Automotive has a one year low of $16.50 and a one year high of $27.45. The stock has a 50-day moving average price of $18.59 and a 200 day moving average price of $20.02.
Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Friday, July 28th. The company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.06. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Sonic Automotive had a return on equity of 11.14% and a net margin of 0.69%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. Equities research analysts predict that Sonic Automotive will post $1.86 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Sonic Automotive by 67.1% in the first quarter. Bank of New York Mellon Corp now owns 835,575 shares of the company’s stock worth $16,753,000 after buying an additional 335,459 shares during the period. LSV Asset Management raised its stake in Sonic Automotive by 12.5% in the first quarter. LSV Asset Management now owns 2,403,776 shares of the company’s stock worth $48,195,000 after buying an additional 267,492 shares during the period. Prudential Financial Inc. raised its stake in Sonic Automotive by 49.4% in the second quarter. Prudential Financial Inc. now owns 422,930 shares of the company’s stock worth $8,226,000 after buying an additional 139,778 shares during the period. Oxford Asset Management acquired a new stake in Sonic Automotive during the first quarter worth about $1,824,000. Finally, Vanguard Group Inc. raised its stake in Sonic Automotive by 3.5% in the first quarter. Vanguard Group Inc. now owns 2,344,255 shares of the company’s stock worth $47,002,000 after buying an additional 78,687 shares during the period. Institutional investors own 63.25% of the company’s stock.
About Sonic Automotive
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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