Sonic Automotive (SAH) – Research Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Sonic Automotive (NYSE: SAH):

• 11/7/2023 – Sonic Automotive was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/31/2023 – Sonic Automotive was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating. They now have a $50.00 price target on the stock.
• 10/31/2023 – Sonic Automotive had its price target raised by analysts at Benchmark Co. from $58.00 to $62.00. They now have a “buy” rating on the stock.
• 10/30/2023 – Sonic Automotive was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/12/2023 – Sonic Automotive had its price target raised by analysts at JPMorgan Chase & Co. from $50.00 to $52.00. They now have a “neutral” rating on the stock.
• 10/5/2023 – Sonic Automotive is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

Sonic Automotive Stock Performance

SAH traded up $1.49 during trading on Friday, hitting $52.46. The company’s stock had a trading volume of 257,763 shares, compared to its average volume of 317,648. Sonic Automotive, Inc. has a one year low of $39.02 and a one year high of $62.26. The business’s 50 day simple moving average is $48.37 and its 200-day simple moving average is $47.71. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 2.21. The firm has a market cap of $1.78 billion, a PE ratio of -38.57 and a beta of 1.83.

Sonic Automotive (NYSE:SAH) last released its earnings results on Thursday, October 26th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.22. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.55 billion. Sonic Automotive had a positive return on equity of 32.73% and a negative net margin of 0.36%. Sonic Automotive’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 earnings per share. As a group, sell-side analysts predict that Sonic Automotive, Inc. will post 6.92 EPS for the current fiscal year.

Sonic Automotive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.30 per share. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.29%. Sonic Automotive’s dividend payout ratio (DPR) is presently -85.29%.

Insider Buying and Selling at Sonic Automotive

In related news, CFO Heath Byrd sold 3,800 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $54.00, for a total value of $205,200.00. Following the completion of the transaction, the chief financial officer now owns 168,622 shares of the company’s stock, valued at approximately $9,105,588. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 38,086 shares of company stock valued at $2,056,992 over the last 90 days. 40.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in shares of Sonic Automotive by 2.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,976 shares of the company’s stock valued at $651,000 after buying an additional 248 shares during the last quarter. FMR LLC increased its holdings in Sonic Automotive by 0.9% in the 1st quarter. FMR LLC now owns 29,209 shares of the company’s stock valued at $1,587,000 after acquiring an additional 258 shares during the last quarter. Captrust Financial Advisors lifted its stake in Sonic Automotive by 5.2% in the 2nd quarter. Captrust Financial Advisors now owns 5,720 shares of the company’s stock worth $210,000 after purchasing an additional 281 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Sonic Automotive by 2.9% during the 3rd quarter. Royal Bank of Canada now owns 10,486 shares of the company’s stock valued at $501,000 after purchasing an additional 296 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Sonic Automotive by 1.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,979 shares of the company’s stock valued at $857,000 after purchasing an additional 304 shares in the last quarter. 48.58% of the stock is owned by hedge funds and other institutional investors.

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.