Sonic Automotive (NYSE:SAH) Stock Rating Lowered by Stephens

Stephens lowered shares of Sonic Automotive (NYSE:SAH - Free Report) from an overweight rating to an equal weight rating in a research report report published on Thursday, Marketbeat reports. They currently have $82.00 price target on the stock, up from their previous price target of $72.00.

Several other brokerages also recently weighed in on SAH. JPMorgan Chase & Co. lowered their price target on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Benchmark assumed coverage on Sonic Automotive in a report on Wednesday, May 28th. They issued a "buy" rating and a $76.00 price objective on the stock. Bank of America lifted their target price on shares of Sonic Automotive from $80.00 to $94.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Needham & Company LLC decreased their target price on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Citigroup started coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sonic Automotive currently has a consensus rating of "Moderate Buy" and an average price target of $74.29.

Sonic Automotive Price Performance

NYSE SAH traded up $0.57 on Thursday, reaching $76.87. The company had a trading volume of 219,743 shares, compared to its average volume of 198,847. 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 stock has a market capitalization of $2.61 billion, a PE ratio of 10.95 and a beta of 1.04. Sonic Automotive has a 12 month low of $52.00 and a 12 month high of $89.62. The firm's 50 day moving average price is $76.55 and its 200 day moving average price is $69.04.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its quarterly earnings data 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 return on equity of 19.42% and a net margin of 1.69%. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the company earned $1.36 EPS. The company's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Sonic Automotive will post 6.14 earnings per share for the current year.

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.82%. Sonic Automotive's dividend payout ratio (DPR) is currently 19.94%.

Insider Buying and Selling at Sonic Automotive

In related news, President Jeff Dyke sold 31,152 shares of Sonic Automotive stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $70.05, for a total value of $2,182,197.60. Following the sale, the president directly owned 605,969 shares in the company, valued at $42,448,128.45. The trade was a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 50,000 shares of company stock valued at $3,502,062. Company insiders own 42.65% of the company's stock.

Hedge Funds Weigh In On Sonic Automotive

Several hedge funds and other institutional investors have recently bought and sold shares of SAH. Goldman Sachs Group Inc. increased its stake in 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 purchasing an additional 197,336 shares during the last quarter. Westwood Holdings Group Inc. boosted its position 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 worth $36,525,000 after buying an additional 133,044 shares during the period. Nuveen LLC purchased a new stake in shares of Sonic Automotive in the first quarter worth about $7,317,000. HITE Hedge Asset Management LLC boosted its holdings in Sonic Automotive by 111.4% in the first quarter. HITE Hedge Asset Management LLC now owns 123,724 shares of the company's stock valued at $7,047,000 after purchasing an additional 65,198 shares during the last quarter. Finally, Phocas Financial Corp. increased its stake in shares of Sonic Automotive by 86.6% in the fourth quarter. Phocas Financial Corp. now owns 116,343 shares of the company's stock worth $7,370,000 after buying an additional 54,008 shares during the last quarter. 46.92% of the stock is owned by institutional investors and hedge funds.

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.