Sonic Automotive, Inc. (NYSE:SAH) Receives $97.89 Average PT from Analysts

Sonic Automotive, Inc. (NYSE:SAHGet Free Report) has been assigned an average rating of “Hold” from the eleven analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $97.3333.

Several equities research analysts have recently issued reports on SAH shares. Morgan Stanley lowered Sonic Automotive from an “equal weight” rating to an “underweight” rating and set a $72.00 target price for the company. in a research report on Friday, August 7th. Weiss Ratings raised shares of Sonic Automotive from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Seaport Research Partners lowered shares of Sonic Automotive from a “buy” rating to a “neutral” rating and increased their price target for the company from $185.00 to $205.00 in a research report on Friday, July 17th. Citigroup raised their price objective on shares of Sonic Automotive from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Barclays lowered their price objective on shares of Sonic Automotive from $92.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Wednesday.

Get Our Latest Report on SAH

Sonic Automotive Price Performance

Shares of NYSE SAH opened at $77.94 on Monday. Sonic Automotive has a twelve month low of $54.11 and a twelve month high of $113.67. The stock’s 50 day moving average price is $88.06 and its 200-day moving average price is $76.08. The company has a market capitalization of $2.46 billion, a PE ratio of 12.43, a PEG ratio of 1.24 and a beta of 0.86. The company has a quick ratio of 0.25, a current ratio of 1.01 and a debt-to-equity ratio of 1.88.

Sonic Automotive (NYSE:SAHGet Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.78 billion. Sonic Automotive had a return on equity of 20.75% and a net margin of 1.37%.Sonic Automotive’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.19 earnings per share. On average, equities analysts anticipate that Sonic Automotive will post 6.95 EPS for the current year.

Sonic Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.64 annualized dividend and a dividend yield of 2.1%. Sonic Automotive’s dividend payout ratio (DPR) is presently 26.16%.

Insider Activity at Sonic Automotive

In related news, President Jeff Dyke sold 35,114 shares of Sonic Automotive stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $85.22, for a total value of $2,992,415.08. Following the sale, the president owned 543,668 shares of the company’s stock, valued at approximately $46,331,386.96. The trade was a 6.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 100,000 shares of company stock valued at $8,408,160. Insiders own 43.68% of the company’s stock.

Institutional Trading of Sonic Automotive

A number of large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Sonic Automotive by 992.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock valued at $35,000 after buying an additional 397 shares during the last quarter. Camelot Portfolios LLC bought a new position in shares of Sonic Automotive during the 4th quarter worth $41,000. Torren Management LLC purchased a new stake in Sonic Automotive in the 4th quarter worth about $50,000. National Bank of Canada FI bought a new stake in Sonic Automotive in the 3rd quarter valued at about $78,000. Finally, State of Wyoming bought a new stake in Sonic Automotive in the 1st quarter valued at about $79,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Company Profile

(Get Free Report)

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.

Recommended Stories

Analyst Recommendations for Sonic Automotive (NYSE:SAH)

Receive News & Ratings for Sonic Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonic Automotive and related companies with MarketBeat.com's FREE daily email newsletter.