Analysts Set Sonic Automotive, Inc. (NYSE:SAH) PT at $57.60

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been given an average recommendation of “Hold” by the four ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $57.60.

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised Sonic Automotive from an “underweight” rating to a “neutral” rating and increased their target price for the company from $53.00 to $58.00 in a report on Monday, June 10th. Bank of America upgraded shares of Sonic Automotive from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $68.00 in a research note on Friday, April 26th.

Sonic Automotive Stock Performance

Shares of NYSE SAH opened at $51.32 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The firm’s 50-day moving average price is $56.36 and its 200-day moving average price is $54.30. Sonic Automotive has a 52-week low of $41.19 and a 52-week high of $64.68. The company has a market cap of $1.74 billion, a PE ratio of 10.52 and a beta of 1.62.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, April 25th. The company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.06. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. Sonic Automotive had a net margin of 1.21% and a return on equity of 27.46%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. As a group, analysts anticipate that Sonic Automotive will post 5.86 EPS for the current year.

Sonic Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, June 14th. Sonic Automotive’s dividend payout ratio (DPR) is currently 24.59%.

Insider Activity

In related news, President Jeff Dyke sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $56.76, for a total value of $851,400.00. Following the completion of the sale, the president now directly owns 161,622 shares of the company’s stock, valued at approximately $9,173,664.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Jeff Dyke sold 15,000 shares of Sonic Automotive stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $56.76, for a total transaction of $851,400.00. Following the transaction, the president now owns 161,622 shares in the company, valued at approximately $9,173,664.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Bruton Smith sold 67,703 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $58.43, for a total transaction of $3,955,886.29. Following the completion of the transaction, the chief executive officer now directly owns 583,054 shares of the company’s stock, valued at approximately $34,067,845.22. The disclosure for this sale can be found here. Insiders have sold a total of 147,569 shares of company stock valued at $8,674,244 in the last ninety days. Corporate insiders own 42.64% of the company’s stock.

Institutional Trading of Sonic Automotive

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in Sonic Automotive during the 1st quarter valued at approximately $30,000. TFO Wealth Partners LLC boosted its position in shares of Sonic Automotive by 35,366.7% during the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock worth $120,000 after acquiring an additional 2,122 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sonic Automotive by 16.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,132 shares of the company’s stock valued at $176,000 after acquiring an additional 447 shares in the last quarter. Quest Partners LLC bought a new stake in Sonic Automotive in the 4th quarter valued at $185,000. Finally, Mackenzie Financial Corp purchased a new stake in Sonic Automotive in the 4th quarter worth $218,000. Institutional investors own 46.92% of the company’s stock.

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.