Sonic Automotive, Inc. (NYSE:SAH) Given Average Rating of “Hold” by Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been assigned an average rating of “Hold” from the four ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $57.60.

SAH has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded shares of Sonic Automotive from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $58.00 in a report on Monday, June 10th. Bank of America upgraded Sonic Automotive from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $68.00 in a report on Friday, April 26th.

Insider Buying and Selling

In other Sonic Automotive news, CFO Heath Byrd sold 2,480 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $148,800.00. Following the transaction, the chief financial officer now owns 193,445 shares in the company, valued at approximately $11,606,700. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO David Bruton Smith sold 3,861 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.43, for a total value of $237,181.23. Following the sale, the chief executive officer now directly owns 583,054 shares of the company’s stock, valued at $35,817,007.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Heath Byrd sold 2,480 shares of Sonic Automotive stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $148,800.00. Following the completion of the transaction, the chief financial officer now owns 193,445 shares in the company, valued at approximately $11,606,700. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,569 shares of company stock valued at $8,674,244. 42.64% of the stock is owned by company insiders.

Institutional Trading of Sonic Automotive

A number of hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its holdings in Sonic Automotive by 270.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 24,652 shares of the company’s stock valued at $1,343,000 after buying an additional 17,989 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in Sonic Automotive by 12.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 630,450 shares of the company’s stock worth $35,898,000 after buying an additional 70,540 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Sonic Automotive by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,806 shares of the company’s stock valued at $730,000 after buying an additional 458 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Sonic Automotive by 85.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,298 shares of the company’s stock worth $451,000 after acquiring an additional 3,820 shares during the last quarter. Finally, Quantbot Technologies LP lifted its stake in shares of Sonic Automotive by 109.1% in the first quarter. Quantbot Technologies LP now owns 17,623 shares of the company’s stock worth $1,003,000 after acquiring an additional 9,193 shares during the period. 46.92% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive Stock Down 2.7 %

NYSE:SAH opened at $51.32 on Wednesday. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 10.52 and a beta of 1.62. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 2.11. The stock has a 50-day moving average price of $56.36 and a two-hundred day moving average price of $54.30. Sonic Automotive has a 1 year low of $41.19 and a 1 year high of $64.68.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.06. Sonic Automotive had a return on equity of 27.46% and a net margin of 1.21%. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the firm earned $1.33 EPS. Sonic Automotive’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts expect that Sonic Automotive will post 5.86 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, June 14th. Sonic Automotive’s dividend payout ratio is currently 24.59%.

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.