Sonic Automotive, Inc. (NYSE:SAH) Receives $77.75 Average PT from Analysts

Sonic Automotive, Inc. (NYSE:SAH) has received a consensus rating of “Hold” from the ten brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $77.50.

SAH has been the subject of several analyst reports. Barclays set a $67.00 target price on shares of Sonic Automotive in a research report on Monday. Stephens cut their target price on Sonic Automotive from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Thursday, February 19th. Zacks Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Wall Street Zen downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sonic Automotive in a research note on Monday, December 29th.

Insider Buying and Selling

In related news, major shareholder Paul P. Rusnak bought 48,540 shares of the business’s stock in a transaction on Friday, February 13th. The shares were purchased at an average price of $59.92 per share, for a total transaction of $2,908,516.80. Following the completion of the transaction, the insider directly owned 5,088,519 shares of the company’s stock, valued at approximately $304,904,058.48. This represents a 0.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have purchased 100,000 shares of company stock valued at $5,994,472. 42.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sonic Automotive

Several hedge funds have recently modified their holdings of SAH. Nisa Investment Advisors LLC increased its holdings in Sonic Automotive by 3.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,509 shares of the company’s stock worth $362,000 after purchasing an additional 165 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Sonic Automotive by 1.2% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,603 shares of the company’s stock worth $965,000 after purchasing an additional 190 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Sonic Automotive by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,426 shares of the company’s stock worth $924,000 after purchasing an additional 273 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Sonic Automotive by 8.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the company’s stock valued at $221,000 after buying an additional 284 shares during the period. Finally, CWM LLC raised its holdings in Sonic Automotive by 11.3% in the 4th quarter. CWM LLC now owns 2,858 shares of the company’s stock valued at $177,000 after buying an additional 291 shares during the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

NYSE:SAH opened at $62.78 on Monday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 18.52 and a beta of 0.93. Sonic Automotive has a fifty-two week low of $52.00 and a fifty-two week high of $89.62. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 1.09. The stock has a fifty day moving average price of $62.44 and a 200-day moving average price of $68.48.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Sonic Automotive had a net margin of 0.78% and a return on equity of 21.54%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the firm earned $1.51 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, March 13th. Sonic Automotive’s dividend payout ratio is currently 44.84%.

About Sonic Automotive

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.