Analysts Set Sonic Automotive, Inc. (NYSE:SAH) Target Price at $90.67

Sonic Automotive, Inc. (NYSE:SAH) has received an average rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $90.6667.

Several equities analysts have recently weighed in on the company. Seaport Research Partners downgraded Sonic Automotive from a “buy” rating to a “neutral” rating and raised their target price for the company from $185.00 to $205.00 in a research report on Friday, July 17th. JPMorgan Chase & Co. dropped their price target on Sonic Automotive from $77.00 to $76.00 and set an “underweight” rating for the company in a research report on Monday, July 13th. Weiss Ratings raised Sonic Automotive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Stephens set a $89.00 price objective on Sonic Automotive in a report on Monday, July 13th. Finally, Barclays lifted their target price on shares of Sonic Automotive from $77.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th.

Insider Buying and Selling at Sonic Automotive

In related news, President Jeff Dyke sold 50,000 shares of the business’s 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 transaction, the president directly owned 111,622 shares in the company, valued at approximately $9,261,277.34. The trade was a 30.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,000 shares of company stock valued at $8,408,160 over the last quarter. Company insiders own 43.68% of the company’s stock.

Institutional Trading of Sonic Automotive

A number of hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL grew its position in shares of Sonic Automotive by 41.2% in the third quarter. Tudor Investment Corp ET AL now owns 183,522 shares of the company’s stock valued at $13,964,000 after purchasing an additional 53,510 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Sonic Automotive by 70.8% during the fourth quarter. BNP Paribas Financial Markets now owns 181,189 shares of the company’s stock worth $11,208,000 after buying an additional 75,125 shares in the last quarter. Heartland Advisors Inc. acquired a new position in Sonic Automotive during the first quarter worth $8,450,000. Louisiana State Employees Retirement System purchased a new stake in Sonic Automotive in the 1st quarter valued at $453,000. Finally, ProShare Advisors LLC grew its holdings in Sonic Automotive by 22.3% in the 4th quarter. ProShare Advisors LLC now owns 94,898 shares of the company’s stock valued at $5,870,000 after buying an additional 17,286 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Stock Up 0.8%

SAH opened at $99.89 on Thursday. The company has a market cap of $3.16 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 1.53 and a beta of 0.89. Sonic Automotive has a twelve month low of $54.11 and a twelve month high of $104.30. The company has a 50-day moving average price of $85.80 and a 200 day moving average price of $72.60. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 1.93.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.22. Sonic Automotive had a return on equity of 22.45% and a net margin of 0.72%.The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the firm posted $1.48 EPS. Sonic Automotive’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts expect that Sonic Automotive will post 6.93 earnings per share for the current fiscal year.

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.6%. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, June 15th. Sonic Automotive’s dividend payout ratio (DPR) is currently 52.23%.

About Sonic Automotive

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.