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

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $74.71.

Several equities research analysts recently issued reports on the company. Bank of America upped their price target on Sonic Automotive from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Monday. Benchmark began coverage on Sonic Automotive in a research report on Wednesday, May 28th. They set a "buy" rating and a $76.00 price objective on the stock. Citigroup assumed coverage on Sonic Automotive in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price objective for the company. Needham & Company LLC lowered their target price on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th.

Sonic Automotive Stock Up 0.9%

Shares of Sonic Automotive stock traded up $0.71 on Wednesday, reaching $77.51. 135,746 shares of the company were exchanged, compared to its average volume of 194,612. The company has a current ratio of 1.09, a quick ratio of 0.38 and a debt-to-equity ratio of 1.67. The company has a 50-day moving average of $67.02 and a 200 day moving average of $66.34. Sonic Automotive has a one year low of $51.27 and a one year high of $78.11. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 0.68 and a beta of 1.02.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.47 billion. Sonic Automotive had a return on equity of 19.42% and a net margin of 1.69%. Sonic Automotive's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share. On average, equities research analysts forecast that Sonic Automotive will post 6.14 earnings per share for the current year.

Sonic Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's dividend payout ratio is currently 19.94%.

Insider Buying and Selling at Sonic Automotive

In related news, President Jeff Dyke sold 576 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $70.02, for a total transaction of $40,331.52. Following the transaction, the president now owns 605,393 shares of the company's stock, valued at $42,389,617.86. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 50,000 shares of company stock worth $3,502,062. 42.65% of the stock is owned by insiders.

Institutional Trading of Sonic Automotive

Large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its holdings in shares of Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock worth $30,000 after purchasing an additional 402 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Sonic Automotive in the 4th quarter worth about $51,000. Quarry LP purchased a new position in shares of Sonic Automotive in the 1st quarter worth about $84,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Sonic Automotive by 1,429.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock worth $98,000 after purchasing an additional 1,444 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Sonic Automotive in the 4th quarter worth about $185,000. Institutional investors and hedge funds own 46.92% of the company's stock.

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.