Sonic Automotive Inc. (NYSE:SAH) shares were down 5.4% during mid-day trading on Tuesday . The stock 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.

Several research analysts have issued reports on SAH shares. Jefferies Group started 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 cut 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 given a hold rating and one has given a buy rating to the company. Sonic Automotive currently has a consensus rating of “Hold” and a consensus target price of $23.75.

The company has a market capitalization of $777.60 million and a PE ratio of 8.70. The firm’s 50-day moving average is $17.82 and its 200-day moving average is $17.72.

Sonic Automotive (NYSE:SAH) last released its earnings results on Tuesday, July 26th. The company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The company earned $2.38 billion during the quarter, compared to analyst estimates of $2.48 billion. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. Equities analysts anticipate that Sonic Automotive Inc. will post $2.10 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, September 13th.

A number of hedge funds recently added to or reduced their stakes in SAH. California State Teachers Retirement System boosted 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 worth $1,389,000 after buying an additional 1,100 shares during the period. Suntrust Banks Inc. boosted its stake in Sonic Automotive by 3.1% in the fourth quarter. Suntrust Banks Inc. now owns 64,288 shares of the company’s stock worth $1,462,000 after buying an additional 1,948 shares during the period. Rhumbline Advisers boosted its stake in Sonic Automotive by 3.4% in the fourth quarter. Rhumbline Advisers now owns 70,526 shares of the company’s stock worth $1,605,000 after buying an additional 2,325 shares during the period. Morgan Stanley boosted its stake in Sonic Automotive by 3.2% in the fourth quarter. Morgan Stanley now owns 571,049 shares of the company’s stock worth $12,997,000 after buying an additional 17,663 shares during the period. Finally, Nationwide Fund Advisors boosted 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 worth $1,986,000 after buying an additional 61,536 shares during the period.

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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