ValuEngine Lowers Sonic Automotive, Inc. (NYSE:SAH) to Hold

Sonic Automotive, Inc. (NYSE:SAH) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday, November 10th.

SAH has been the subject of a number of other reports. KeyCorp reaffirmed a “hold” rating on shares of Sonic Automotive in a report on Friday, September 1st. TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, October 18th. Bank of America Corporation lowered Sonic Automotive from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 19th. Zacks Investment Research upgraded Sonic Automotive from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, BidaskClub lowered Sonic Automotive from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.67.

Shares of Sonic Automotive (SAH) opened at $20.35 on Friday. Sonic Automotive has a 52 week low of $15.95 and a 52 week high of $27.45. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.26 and a current ratio of 1.06. The firm has a market cap of $870.81, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 3.69 and a beta of 1.54.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. Sonic Automotive had a net margin of 0.70% and a return on equity of 10.47%. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. equities analysts forecast that Sonic Automotive will post 1.82 EPS for the current fiscal year.

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In related news, EVP Jeff Dyke sold 8,551 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $20.10, for a total value of $171,875.10. Following the completion of the transaction, the executive vice president now directly owns 1,262,056 shares in the company, valued at approximately $25,367,325.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Heath Byrd sold 11,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $20.43, for a total value of $224,730.00. Following the completion of the transaction, the chief financial officer now owns 143,306 shares of the company’s stock, valued at $2,927,741.58. The disclosure for this sale can be found here. 30.29% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of SAH. UBS Asset Management Americas Inc. bought a new stake in Sonic Automotive in the 1st quarter valued at approximately $243,000. Principal Financial Group Inc. lifted its stake in Sonic Automotive by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 199,784 shares of the company’s stock valued at $4,006,000 after acquiring an additional 7,111 shares in the last quarter. FMR LLC lifted its stake in Sonic Automotive by 2.8% in the 1st quarter. FMR LLC now owns 1,259,500 shares of the company’s stock valued at $25,253,000 after acquiring an additional 34,500 shares in the last quarter. Teachers Advisors LLC lifted its stake in Sonic Automotive by 4.3% in the 1st quarter. Teachers Advisors LLC now owns 85,810 shares of the company’s stock valued at $1,720,000 after acquiring an additional 3,501 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Sonic Automotive by 5.1% in the 1st quarter. Thrivent Financial For Lutherans now owns 14,960 shares of the company’s stock valued at $300,000 after acquiring an additional 720 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

About Sonic Automotive

Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sonic Automotive (NYSE:SAH)

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