Sonic Automotive, Inc. (NYSE:SAH – Get Free Report) President Jeff Dyke sold 50,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $82.97, for a total transaction of $4,148,500.00. Following the completion of the sale, the president owned 111,622 shares of the company’s stock, valued at approximately $9,261,277.34. The trade was a 30.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sonic Automotive Stock Performance
Sonic Automotive stock opened at $82.77 on Tuesday. The firm has a 50 day simple moving average of $74.15 and a 200-day simple moving average of $66.72. Sonic Automotive, Inc. has a 1-year low of $54.11 and a 1-year high of $89.62. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.03 and a quick ratio of 0.29. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.
Sonic Automotive (NYSE:SAH – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.22. Sonic Automotive had a net margin of 0.72% and a return on equity of 22.45%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the company posted $1.48 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts expect that Sonic Automotive, Inc. will post 6.92 EPS for the current year.
Sonic Automotive Increases Dividend
Wall Street Analysts Forecast Growth
A number of research analysts have commented on SAH shares. JPMorgan Chase & Co. upped their price target on Sonic Automotive from $67.00 to $77.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Bank of America assumed coverage on Sonic Automotive in a research note on Wednesday, March 4th. They set a “neutral” rating on the stock. Barclays raised their price target on shares of Sonic Automotive from $67.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. UBS Group assumed coverage on shares of Sonic Automotive in a research report on Wednesday, May 27th. They issued a “buy” rating and a $90.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Sonic Automotive in a research report on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sonic Automotive currently has an average rating of “Hold” and an average price target of $83.00.
View Our Latest Stock Report on SAH
Institutional Investors Weigh In On Sonic Automotive
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Sonic Automotive by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,646,450 shares of the company’s stock worth $125,278,000 after purchasing an additional 96,836 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sonic Automotive by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,313,857 shares of the company’s stock worth $90,088,000 after purchasing an additional 48,599 shares during the last quarter. State Street Corp lifted its position in shares of Sonic Automotive by 9.8% during the 4th quarter. State Street Corp now owns 701,133 shares of the company’s stock worth $43,623,000 after purchasing an additional 62,426 shares during the last quarter. Invesco Ltd. lifted its position in shares of Sonic Automotive by 11.9% during the 4th quarter. Invesco Ltd. now owns 510,963 shares of the company’s stock worth $31,608,000 after purchasing an additional 54,455 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Sonic Automotive by 20.5% during the 3rd quarter. Millennium Management LLC now owns 383,117 shares of the company’s stock worth $29,151,000 after purchasing an additional 65,266 shares during the last quarter. 46.92% of the stock is owned by hedge funds and other institutional investors.
Sonic Automotive Company Profile
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.
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