Sonic Automotive (SAH) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of Sonic Automotive (NYSE:SAH) from a hold rating to a buy rating in a report released on Friday morning.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Sonic Automotive from a strong sell rating to a hold rating in a research note on Thursday, November 2nd. TheStreet upgraded shares of Sonic Automotive from a c+ rating to a b rating in a research note on Wednesday, October 18th. Bank of America cut shares of Sonic Automotive from a neutral rating to an underperform rating in a research note on Thursday, October 19th. KeyCorp reiterated a hold rating on shares of Sonic Automotive in a research note on Friday, September 1st. Finally, BidaskClub cut shares of Sonic Automotive from a sell rating to a strong sell rating in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $23.67.
Shares of Sonic Automotive (NYSE SAH) traded up $0.15 during trading on Friday, reaching $21.40. 166,697 shares of the company’s stock traded hands, compared to its average volume of 200,633. Sonic Automotive has a twelve month low of $15.95 and a twelve month high of $27.45. The company has a quick ratio of 0.26, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. The firm has a market cap of $917.89, a PE ratio of 12.57, a price-to-earnings-growth ratio of 3.88 and a beta of 1.56.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. Sonic Automotive had a net margin of 0.70% and a return on equity of 10.47%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the company earned $0.47 EPS. The business’s revenue was down 2.0% on a year-over-year basis. equities analysts forecast that Sonic Automotive will post 1.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, December 14th. Sonic Automotive’s payout ratio is presently 13.07%.
In other news, EVP Jeff Dyke sold 8,551 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $20.10, for a total value of $171,875.10. Following the completion of the transaction, the executive vice president now directly owns 1,262,056 shares in the company, valued at approximately $25,367,325.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Heath Byrd sold 11,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $20.43, for a total transaction of $224,730.00. Following the completion of the transaction, the chief financial officer now owns 143,306 shares of the company’s stock, valued at $2,927,741.58. The disclosure for this sale can be found here. 30.29% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its position in Sonic Automotive by 78.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,153 shares of the company’s stock worth $100,000 after purchasing an additional 2,263 shares in the last quarter. Victory Capital Management Inc. increased its position in Sonic Automotive by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,854 shares of the company’s stock worth $114,000 after purchasing an additional 878 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Sonic Automotive by 4.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock worth $178,000 after purchasing an additional 410 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Sonic Automotive by 48.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,359 shares of the company’s stock worth $182,000 after purchasing an additional 3,068 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in Sonic Automotive during the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 64.31% of the company’s stock.
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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