Sonic Automotive, Inc. (NYSE:SAH) Given Consensus Rating of “Moderate Buy” by Brokerages

Sonic Automotive, Inc. (NYSE:SAH) has received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $74.71.

Several analysts recently issued reports on SAH shares. Bank of America increased their price target on Sonic Automotive from $80.00 to $94.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. decreased their target price on Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Wall Street Zen upgraded Sonic Automotive from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th. Needham & Company LLC reduced their price target on Sonic Automotive from $93.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup assumed coverage on Sonic Automotive in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $64.00 price target for the company.

Sonic Automotive Stock Down 0.6%

Shares of NYSE SAH opened at $76.64 on Wednesday. The stock has a market capitalization of $2.60 billion, a PE ratio of 10.92, a P/E/G ratio of 0.63 and a beta of 1.02. The company has a quick ratio of 0.38, a current ratio of 1.09 and a debt-to-equity ratio of 1.67. The firm has a fifty day moving average of $66.35 and a 200-day moving average of $66.21. Sonic Automotive has a 52-week low of $51.27 and a 52-week high of $78.11.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Sonic Automotive had a return on equity of 19.42% and a net margin of 1.69%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. On average, analysts anticipate that Sonic Automotive will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Friday, June 13th. Sonic Automotive’s dividend payout ratio (DPR) is presently 19.94%.

Insiders Place Their Bets

In related news, President Jeff Dyke sold 1,838 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $70.00, for a total value of $128,660.00. Following the sale, the president now directly owns 637,121 shares in the company, valued at $44,598,470. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 50,000 shares of company stock valued at $3,502,062 over the last quarter. Insiders own 42.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pacific Global Investment Management Co. raised its holdings in shares of Sonic Automotive by 4.1% during the fourth quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock valued at $288,000 after acquiring an additional 179 shares during the period. New York State Teachers Retirement System grew its position in Sonic Automotive by 0.8% during the 4th quarter. New York State Teachers Retirement System now owns 25,935 shares of the company’s stock worth $1,643,000 after purchasing an additional 212 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sonic Automotive by 4.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,370 shares of the company’s stock valued at $530,000 after purchasing an additional 380 shares during the period. American Century Companies Inc. lifted its holdings in shares of Sonic Automotive by 1.9% in the fourth quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock valued at $1,305,000 after purchasing an additional 390 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Sonic Automotive by 515.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

About Sonic Automotive

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