Sonic Automotive Inc. (NYSE:SAH)’s share price dropped 5.4% during trading on Tuesday . The company traded as low as $16.94 and last traded at $16.94, with a volume of 127,830 shares. The stock had previously closed at $17.90.

SAH has been the subject of a number of recent research reports. Jefferies Group initiated coverage on shares of Sonic Automotive in a report on Monday, April 11th. They issued a “hold” rating and a $18.00 target price for the company. Zacks Investment Research downgraded shares of Sonic Automotive from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.75.

The company has a market cap of $767.15 million and a price-to-earnings ratio of 8.59. The firm has a 50 day moving average price of $17.80 and a 200 day moving average price of $17.74.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Tuesday, July 26th. The company reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. During the same period in the prior year, the business posted $0.46 earnings per share. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.48 billion. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities analysts predict that Sonic Automotive Inc. will post $2.11 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.18%.

Several hedge funds have recently bought and sold shares of SAH. Morgan Stanley raised its stake in Sonic Automotive by 3.2% in the fourth quarter. Morgan Stanley now owns 571,049 shares of the company’s stock valued at $12,997,000 after buying an additional 17,663 shares in the last quarter. Nationwide Fund Advisors raised its stake in Sonic Automotive by 239.4% in the fourth quarter. Nationwide Fund Advisors now owns 87,240 shares of the company’s stock valued at $1,986,000 after buying an additional 61,536 shares in the last quarter. Rhumbline Advisers raised its stake in Sonic Automotive by 3.4% in the fourth quarter. Rhumbline Advisers now owns 70,526 shares of the company’s stock valued at $1,605,000 after buying an additional 2,325 shares in the last quarter. California State Teachers Retirement System raised its stake in Sonic Automotive by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 61,011 shares of the company’s stock valued at $1,389,000 after buying an additional 1,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Sonic Automotive by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,581,396 shares of the company’s stock valued at $58,753,000 after buying an additional 191,591 shares in the last quarter.

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

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