Sonic Automotive (NYSE:SAH) Shares Gap Up to $51.12

Sonic Automotive, Inc. (NYSE:SAH)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $51.12, but opened at $55.43. Sonic Automotive shares last traded at $56.27, with a volume of 99,659 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. StockNews.com downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Bank of America dropped their price objective on Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating on the stock in a research note on Thursday, February 29th. TheStreet raised Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley increased their price objective on Sonic Automotive from $35.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $53.40.

Sonic Automotive Price Performance

The company has a current ratio of 1.10, a quick ratio of 0.41 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 11.28 and a beta of 1.82. The stock has a 50-day moving average price of $52.28 and a 200 day moving average price of $51.83.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.17). Sonic Automotive had a return on equity of 28.06% and a net margin of 1.24%. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the previous year, the firm posted $2.61 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. As a group, equities research analysts expect that Sonic Automotive, Inc. will post 5.62 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Thursday, March 14th. Sonic Automotive’s dividend payout ratio (DPR) is 24.14%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in Sonic Automotive in the 1st quarter worth approximately $30,000. TFO Wealth Partners LLC raised its position in shares of Sonic Automotive by 35,366.7% during the 4th 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 period. SG Americas Securities LLC purchased a new stake in shares of Sonic Automotive during the 3rd quarter valued at approximately $135,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sonic Automotive by 16.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,132 shares of the company’s stock valued at $176,000 after buying an additional 447 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Sonic Automotive during the 4th quarter valued at approximately $185,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

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.