Sonic Automotive (NYSE:SAH) Lowered to "Hold" Rating by Zacks Research

Sonic Automotive (NYSE:SAH - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on SAH. Citigroup upped their price target on shares of Sonic Automotive from $81.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, September 25th. Stephens cut shares of Sonic Automotive from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $72.00 to $82.00 in a report on Thursday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price target on shares of Sonic Automotive in a report on Thursday, October 2nd. JPMorgan Chase & Co. upped their target price on shares of Sonic Automotive from $74.00 to $76.00 and gave the stock an "underweight" rating in a research report on Tuesday, October 14th. Finally, Benchmark upped their target price on shares of Sonic Automotive from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $83.71.

Sonic Automotive Trading Down 15.8%

Sonic Automotive stock opened at $65.50 on Wednesday. The stock has a market cap of $2.24 billion, a P/E ratio of 14.56 and a beta of 0.95. Sonic Automotive has a fifty-two week low of $52.00 and a fifty-two week high of $89.62. The firm's fifty day moving average price is $78.11 and its 200-day moving average price is $74.09. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.24 and a current ratio of 1.03.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.41). The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.59 billion. Sonic Automotive had a return on equity of 21.40% and a net margin of 1.07%.The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 EPS. Equities research analysts forecast that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Institutional Trading of Sonic Automotive

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its position in Sonic Automotive by 143.3% during the third quarter. SG Americas Securities LLC now owns 5,204 shares of the company's stock valued at $396,000 after buying an additional 3,065 shares during the period. CoreCap Advisors LLC purchased a new stake in Sonic Automotive during the third quarter valued at about $109,000. CWA Asset Management Group LLC purchased a new stake in Sonic Automotive during the third quarter valued at about $2,006,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Sonic Automotive during the third quarter valued at about $403,000. Finally, Highland Capital Management LLC purchased a new stake in Sonic Automotive during the third quarter valued at about $319,000. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

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.

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