Sonic Automotive, Inc. (NYSE:SAH) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $74.71.

Several equities analysts have issued reports on SAH shares. Citigroup started coverage on shares of Sonic Automotive in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price target for the company. Benchmark initiated coverage on shares of Sonic Automotive in a research report on Wednesday, May 28th. They set a "buy" rating and a $76.00 price objective for the company. Bank of America increased their price objective on shares of Sonic Automotive from $80.00 to $94.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. decreased their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, Needham & Company LLC decreased their price objective on shares of Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a research report on Thursday, April 24th.

Insiders Place Their Bets

In other Sonic Automotive news, President Jeff Dyke sold 1,838 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $70.00, for a total value of $128,660.00. Following the completion of the sale, the president now directly owns 637,121 shares in the company, valued at approximately $44,598,470. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 50,000 shares of company stock worth $3,502,062. 42.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sonic Automotive

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Sonic Automotive by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock worth $98,658,000 after purchasing an additional 20,058 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of Sonic Automotive by 26.2% in the first quarter. Westwood Holdings Group Inc. now owns 641,237 shares of the company's stock valued at $36,525,000 after buying an additional 133,044 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Sonic Automotive by 3.9% in the fourth quarter. Millennium Management LLC now owns 476,107 shares of the company's stock valued at $30,161,000 after buying an additional 17,965 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Sonic Automotive by 124.9% in the first quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company's stock valued at $20,239,000 after buying an additional 197,336 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Sonic Automotive by 0.3% in the first quarter. Northern Trust Corp now owns 291,941 shares of the company's stock valued at $16,629,000 after buying an additional 808 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Trading Up 1.1%

NYSE SAH traded up $0.84 on Wednesday, hitting $78.46. The company's stock had a trading volume of 429,318 shares, compared to its average volume of 194,849. The company has a quick ratio of 0.38, a current ratio of 1.09 and a debt-to-equity ratio of 1.67. Sonic Automotive has a 1-year low of $51.27 and a 1-year high of $78.93. The company's 50-day moving average is $67.38 and its 200 day moving average is $66.40. The firm has a market cap of $2.66 billion, a PE ratio of 11.18, a PEG ratio of 0.69 and a beta of 1.02.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Sonic Automotive had a net margin of 1.69% and a return on equity of 19.42%. The firm had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.47 billion. During the same period in the prior year, the company posted $1.36 EPS. The company's revenue was up 7.9% on a year-over-year basis. As a group, analysts predict that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's payout ratio is 19.94%.

Sonic Automotive Company Profile

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.