ValuEngine Upgrades Sonic Automotive (SAH) to “Buy”
ValuEngine upgraded shares of Sonic Automotive (NYSE:SAH) from a hold rating to a buy rating in a research report released on Wednesday morning.
Several other research firms have also weighed in on SAH. Zacks Investment Research upgraded Sonic Automotive from a sell rating to a hold rating and set a $23.00 target price on the stock in a report on Tuesday, January 9th. Bank of America upgraded Sonic Automotive from an underperform rating to a neutral rating and set a $23.00 target price on the stock in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $22.75.
Shares of Sonic Automotive (NYSE SAH) opened at $20.25 on Wednesday. The stock has a market capitalization of $874.70, a price-to-earnings ratio of 10.83, a P/E/G ratio of 2.97 and a beta of 1.60. Sonic Automotive has a 12-month low of $15.95 and a 12-month high of $22.75. The company has a current ratio of 1.03, a quick ratio of 0.26 and a debt-to-equity ratio of 1.22.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.06 per share. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.19%. The ex-dividend date is Wednesday, March 14th. Sonic Automotive’s dividend payout ratio (DPR) is 9.43%.
A number of hedge funds and other institutional investors have recently bought and sold shares of SAH. Public Employees Retirement System of Ohio raised its holdings in Sonic Automotive by 7.0% during the second quarter. Public Employees Retirement System of Ohio now owns 9,515 shares of the company’s stock valued at $185,000 after buying an additional 624 shares in the last quarter. Jane Street Group LLC bought a new position in Sonic Automotive during the third quarter valued at about $260,000. MetLife Investment Advisors LLC bought a new position in Sonic Automotive during the fourth quarter valued at about $271,000. Voya Investment Management LLC raised its holdings in Sonic Automotive by 14.1% during the second quarter. Voya Investment Management LLC now owns 14,478 shares of the company’s stock valued at $282,000 after buying an additional 1,790 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in Sonic Automotive by 53.7% during the third quarter. BNP Paribas Arbitrage SA now owns 14,385 shares of the company’s stock valued at $293,000 after buying an additional 5,026 shares in the last quarter. Institutional investors own 62.86% of the company’s stock.
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Sonic Automotive Company Profile
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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