Stephens set a $40.00 price objective on Sonic Automotive (NYSE:SAH) in a research report sent to investors on Friday, TipRanks reports. The brokerage currently has a buy rating on the stock.
Several other equities analysts have also recently weighed in on SAH. JPMorgan Chase & Co. raised shares of Sonic Automotive from an underweight rating to a neutral rating and raised their price target for the stock from $23.00 to $30.00 in a research note on Tuesday, September 10th. Buckingham Research raised their price target on shares of Sonic Automotive from $15.00 to $20.00 and gave the stock a neutral rating in a research note on Monday, July 15th. Bank of America cut shares of Sonic Automotive from a neutral rating to an underperform rating in a research note on Friday, September 13th. Morgan Stanley raised their price target on shares of Sonic Automotive from $20.00 to $22.00 and gave the stock an underweight rating in a research note on Tuesday, October 15th. Finally, ValuEngine cut shares of Sonic Automotive from a buy rating to a hold rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $26.50.
NYSE SAH traded up $1.15 during trading hours on Friday, reaching $34.04. 757,352 shares of the company’s stock were exchanged, compared to its average volume of 266,732. The company’s 50-day moving average is $29.54 and its two-hundred day moving average is $24.11. Sonic Automotive has a one year low of $12.78 and a one year high of $35.41. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.25 and a current ratio of 1.03. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 4.66 and a beta of 1.89.
Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, October 24th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.09. Sonic Automotive had a return on equity of 12.39% and a net margin of 1.16%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the business earned $0.43 EPS. Sonic Automotive’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts predict that Sonic Automotive will post 2.44 earnings per share for the current fiscal year.
In other news, President Jeff Dyke sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $30.00, for a total transaction of $750,000.00. Following the completion of the transaction, the president now directly owns 1,290,003 shares of the company’s stock, valued at approximately $38,700,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.60% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. bought a new position in shares of Sonic Automotive in the second quarter valued at $38,000. Bank of Montreal Can grew its stake in shares of Sonic Automotive by 297.0% in the second quarter. Bank of Montreal Can now owns 3,871 shares of the company’s stock valued at $89,000 after buying an additional 2,896 shares in the last quarter. Capital Investment Advisory Services LLC grew its stake in shares of Sonic Automotive by 32.2% in the second quarter. Capital Investment Advisory Services LLC now owns 4,051 shares of the company’s stock valued at $96,000 after buying an additional 986 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Sonic Automotive in the second quarter valued at $204,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Sonic Automotive in the second quarter valued at $204,000. 60.71% of the stock is owned by institutional investors and hedge funds.
About Sonic Automotive
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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