Sonic Automotive's (SAH) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Sonic Automotive has been rated "hold (C)" by Weiss Ratings, amidst varying opinions from other analysts, including Zacks Research raising it to "strong-buy."
• The stock opened at $72.12, with a 52-week range of $52.00 to $89.62, and currently has a market cap of $2.46 billion.
• The company reported earnings per share of $2.19 for the last quarter, exceeding expectations and showing a year-over-year revenue increase of 5.9%.

Sonic Automotive (NYSE:SAH - Get Free Report)'s stock had its "hold (c)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

SAH has been the topic of several other research reports. Zacks Research raised Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 23rd. Benchmark increased their target price on Sonic Automotive from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, September 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $95.00 target price on shares of Sonic Automotive in a research report on Thursday, October 2nd. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $72.00 price objective (up previously from $65.00) on shares of Sonic Automotive in a report on Thursday, July 17th. Finally, Wall Street Zen lowered Sonic Automotive from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $83.14.

Sonic Automotive Stock Down 0.5%

Shares of NYSE:SAH opened at $72.12 on Wednesday. Sonic Automotive has a 52-week low of $52.00 and a 52-week high of $89.62. The stock has a market cap of $2.46 billion, a P/E ratio of 16.03 and a beta of 0.95. The business's 50 day moving average is $78.33 and its 200 day moving average is $72.93. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 1.78.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.56. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.66 billion. Sonic Automotive had a return on equity of 21.40% and a net margin of 1.07%.The business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.47 EPS. Sell-side analysts predict that Sonic Automotive will post 6.14 EPS for the current year.

Hedge Funds Weigh In On Sonic Automotive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its stake in Sonic Automotive by 26.2% in the 1st quarter. Westwood Holdings Group Inc. now owns 641,237 shares of the company's stock worth $36,525,000 after acquiring an additional 133,044 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Sonic Automotive by 124.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company's stock worth $20,239,000 after acquiring an additional 197,336 shares during the last quarter. Northern Trust Corp raised its stake in Sonic Automotive by 0.3% in the 1st quarter. Northern Trust Corp now owns 291,941 shares of the company's stock worth $16,629,000 after acquiring an additional 808 shares during the last quarter. Nuveen LLC purchased a new position in Sonic Automotive in the 1st quarter worth $7,317,000. Finally, Squarepoint Ops LLC raised its stake in Sonic Automotive by 79.2% in the 2nd quarter. Squarepoint Ops LLC now owns 126,740 shares of the company's stock worth $10,130,000 after acquiring an additional 56,027 shares during the last quarter. Hedge funds and other institutional investors own 46.92% of the company's stock.

About Sonic Automotive

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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