Sonic Automotive, Inc. (NYSE:SAH) Receives $63.50 Consensus Target Price from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $63.50.

SAH has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Stephens initiated coverage on shares of Sonic Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 price objective for the company. Bank of America decreased their price objective on Sonic Automotive from $68.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Needham & Company LLC began coverage on Sonic Automotive in a report on Tuesday, August 20th. They issued a “buy” rating and a $73.00 target price on the stock.

Insider Activity at Sonic Automotive

In other Sonic Automotive news, CFO Heath Byrd sold 19,827 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $60.00, for a total transaction of $1,189,620.00. Following the completion of the transaction, the chief financial officer now owns 173,618 shares of the company’s stock, valued at approximately $10,417,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 40.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Sonic Automotive in the first quarter worth $30,000. Innealta Capital LLC acquired a new stake in Sonic Automotive in the 2nd quarter worth $41,000. AM Squared Ltd bought a new position in shares of Sonic Automotive during the 2nd quarter worth about $82,000. TFO Wealth Partners LLC raised its position in shares of Sonic Automotive by 35,366.7% during the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock valued at $120,000 after buying an additional 2,122 shares during the last quarter. Finally, Point72 DIFC Ltd lifted its stake in shares of Sonic Automotive by 6.9% in the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after buying an additional 187 shares during the period. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Trading Down 1.6 %

Sonic Automotive stock opened at $57.62 on Monday. Sonic Automotive has a 1 year low of $41.19 and a 1 year high of $64.68. The firm’s 50 day moving average price is $58.48 and its two-hundred day moving average price is $56.19. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 11.81 and a beta of 1.61. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.36 and a current ratio of 1.10.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Monday, August 5th. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.09. Sonic Automotive had a return on equity of 25.31% and a net margin of 1.35%. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the firm earned $1.83 earnings per share. Sonic Automotive’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, research analysts predict that Sonic Automotive will post 5.79 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, September 13th. 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.