Sonic Automotive (NYSE:SAH) Shares Gap Up to $51.12

Shares of Sonic Automotive, Inc. (NYSE:SAH) gapped up prior to trading on Thursday . The stock had previously closed at $51.12, but opened at $55.43. Sonic Automotive shares last traded at $56.27, with a volume of 99,659 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SAH shares. StockNews.com downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Bank of America decreased their price target on shares of Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating on the stock in a research note on Thursday, February 29th. Morgan Stanley lifted their price target on shares of Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. Finally, TheStreet raised shares of Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.40.

Sonic Automotive Stock Performance

The company has a quick ratio of 0.41, a current ratio of 1.10 and a debt-to-equity ratio of 2.10. The company has a market cap of $1.93 billion, a PE ratio of 11.28 and a beta of 1.82. The business’s fifty day moving average is $52.28 and its 200-day moving average is $51.83.

Sonic Automotive (NYSE:SAH) last released its earnings results on Wednesday, February 14th. The company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.17). Sonic Automotive had a return on equity of 28.06% and a net margin of 1.24%. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the business posted $2.61 EPS. Sonic Automotive’s revenue was down .2% on a year-over-year basis. As a group, research analysts predict that Sonic Automotive, Inc. will post 5.62 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, March 14th. Sonic Automotive’s payout ratio is currently 24.14%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Denali Advisors LLC boosted its stake in shares of Sonic Automotive by 32.0% during the first quarter. Denali Advisors LLC now owns 36,700 shares of the company’s stock valued at $2,090,000 after purchasing an additional 8,900 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Sonic Automotive during the first quarter valued at $30,000. Quadrature Capital Ltd bought a new stake in shares of Sonic Automotive in the fourth quarter valued at about $1,724,000. Oracle Alpha Inc. bought a new stake in shares of Sonic Automotive in the fourth quarter valued at about $410,000. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Sonic Automotive in the fourth quarter valued at about $31,473,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Company Profile

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.