Sonic Automotive (SAH) Downgraded by ValuEngine

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

Several other equities analysts have also weighed in on the company. Zacks Investment Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 2nd. TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, October 18th. Bank of America lowered Sonic Automotive from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 19th. KeyCorp reiterated a “hold” rating on shares of Sonic Automotive in a research note on Friday, September 1st. Finally, BidaskClub lowered Sonic Automotive from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Two investment 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 has an average rating of “Hold” and an average price target of $23.67.

Sonic Automotive (SAH) traded up $1.20 during trading on Friday, hitting $21.90. The stock had a trading volume of 379,600 shares, compared to its average volume of 266,150. 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 current ratio of 1.06 and a quick ratio of 0.26. The firm has a market cap of $870.39, a PE ratio of 11.86, a price-to-earnings-growth ratio of 3.67 and a beta of 1.54.

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

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

A number of large investors have recently added to or reduced their stakes in SAH. Northern Trust Corp lifted its stake in Sonic Automotive by 23.6% during the second quarter. Northern Trust Corp now owns 1,201,056 shares of the company’s stock worth $23,360,000 after purchasing an additional 228,935 shares in the last quarter. Towle & Co. lifted its stake in Sonic Automotive by 18.8% during the third quarter. Towle & Co. now owns 1,122,759 shares of the company’s stock worth $22,904,000 after purchasing an additional 177,535 shares in the last quarter. Prudential Financial Inc. lifted its stake in Sonic Automotive by 49.4% during the second quarter. Prudential Financial Inc. now owns 422,930 shares of the company’s stock worth $8,226,000 after purchasing an additional 139,778 shares in the last quarter. Elliott Management Corp lifted its stake in Sonic Automotive by 17.6% during the second quarter. Elliott Management Corp now owns 892,275 shares of the company’s stock worth $17,355,000 after purchasing an additional 133,700 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Sonic Automotive by 3.5% during the first quarter. Vanguard Group Inc. now owns 2,344,255 shares of the company’s stock worth $47,002,000 after purchasing an additional 78,687 shares in the last quarter. Institutional investors own 64.31% of the company’s stock.

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Sonic Automotive Company Profile

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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