Brokerages Set Sonic Automotive, Inc. (NYSE:SAH) PT at $77.75

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been assigned a consensus rating of “Hold” from the ten brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $77.50.

SAH has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Sonic Automotive in a research report on Thursday, February 19th. Wall Street Zen cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Zacks Research raised Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Citigroup upgraded Sonic Automotive from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Sonic Automotive in a research note on Monday, December 29th.

Sonic Automotive Price Performance

Shares of NYSE:SAH opened at $62.67 on Monday. 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 business’s fifty day moving average price is $62.45 and its two-hundred day moving average price is $68.60. The stock has a market cap of $2.14 billion, a PE ratio of 18.49 and a beta of 0.93. Sonic Automotive has a one year low of $52.00 and a one year high of $89.62.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the company earned $1.51 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. On average, analysts forecast 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. Stockholders of record on Friday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, March 13th. Sonic Automotive’s dividend payout ratio is presently 44.84%.

Insider Transactions at Sonic Automotive

In related news, major shareholder Paul P. Rusnak bought 11,481 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average cost of $59.95 per share, for a total transaction of $688,285.95. Following the completion of the acquisition, the insider owned 5,100,000 shares in the company, valued at $305,745,000. This trade represents a 0.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 100,000 shares of company stock valued at $5,994,472 in the last ninety days. 42.65% of the stock is currently owned by insiders.

Institutional Trading of Sonic Automotive

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in shares of Sonic Automotive by 124.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company’s stock worth $20,239,000 after buying an additional 197,336 shares during the period. Bridgeway Capital Management LLC purchased a new position in shares of Sonic Automotive in the 4th quarter worth about $7,384,000. Qube Research & Technologies Ltd acquired a new position in shares of Sonic Automotive in the 3rd quarter valued at about $7,450,000. Vanguard Group Inc. lifted its stake in shares of Sonic Automotive by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,646,450 shares of the company’s stock valued at $125,278,000 after purchasing an additional 96,836 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in Sonic Automotive during the 2nd quarter worth approximately $6,564,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

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.