Sonic Automotive (NYSE:SAH) had its price target lifted by stock analysts at Buckingham Research from $15.00 to $20.00 in a research report issued on Monday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the stock. Buckingham Research’s target price would indicate a potential downside of 15.25% from the stock’s previous close.
A number of other analysts have also commented on SAH. Stephens upgraded Sonic Automotive from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $30.00 in a report on Wednesday, June 5th. Bank of America set a $275.00 price target on SVB Financial Group and gave the company a “buy” rating in a report on Friday, April 26th. Zacks Investment Research lowered Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. TheStreet upgraded BlackRock TCP Capital from a “c+” rating to a “b” rating in a report on Tuesday, May 28th. Finally, Morgan Stanley boosted their price target on Sonic Automotive from $10.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.50.
NYSE:SAH opened at $23.60 on Monday. Sonic Automotive has a 1 year low of $12.78 and a 1 year high of $24.05. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $1.01 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 3.68 and a beta of 1.85. The firm has a 50-day simple moving average of $22.16.
Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, April 25th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.17. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Sonic Automotive had a return on equity of 10.12% and a net margin of 0.97%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. As a group, equities analysts expect that Sonic Automotive will post 2.12 earnings per share for the current year.
In related news, CFO Heath Byrd sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $23.60, for a total transaction of $354,000.00. Following the sale, the chief financial officer now owns 177,242 shares in the company, valued at $4,182,911.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 31.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Sonic Automotive by 4.7% during the fourth quarter. BlackRock Inc. now owns 4,261,659 shares of the company’s stock worth $58,641,000 after acquiring an additional 189,881 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Sonic Automotive by 15.4% during the fourth quarter. Bank of New York Mellon Corp now owns 481,974 shares of the company’s stock worth $6,632,000 after acquiring an additional 64,186 shares in the last quarter. Geode Capital Management LLC raised its holdings in Sonic Automotive by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 251,713 shares of the company’s stock worth $3,463,000 after acquiring an additional 13,736 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Sonic Automotive by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 192,047 shares of the company’s stock worth $2,643,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Sonic Automotive by 2.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 162,131 shares of the company’s stock worth $2,231,000 after acquiring an additional 3,838 shares in the last quarter. Institutional investors and hedge funds own 60.83% of the company’s stock.
Sonic Automotive Company Profile
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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.
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