CL King lowered shares of Sonic Automotive, Inc. (NYSE:SAH) from a buy rating to a neutral rating in a report issued on Tuesday morning.

Other analysts have also recently issued research reports about the stock. TheStreet raised shares of Sonic Automotive from a hold rating to a buy rating in a research note on Friday, November 11th. Zacks Investment Research raised shares of Sonic Automotive from a sell rating to a hold rating in a research note on Saturday, December 31st. Finally, Jefferies Group reissued a hold rating on shares of Sonic Automotive in a research note on Wednesday, October 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Sonic Automotive presently has a consensus rating of Hold and an average price target of $21.00.

Shares of Sonic Automotive (NYSE:SAH) opened at 23.15 on Tuesday. Sonic Automotive has a 1-year low of $15.68 and a 1-year high of $24.30. The firm has a 50 day moving average price of $22.64 and a 200 day moving average price of $19.16. The firm has a market cap of $1.04 billion, a P/E ratio of 12.66 and a beta of 1.57.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by $0.07. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.48 billion. Sonic Automotive had a return on equity of 13.54% and a net margin of 0.90%. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts anticipate that Sonic Automotive will post $1.98 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Thursday, December 15th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.86%. Sonic Automotive’s dividend payout ratio is 10.93%.

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Sonic Automotive by 16.6% in the second quarter. Public Employees Retirement System of Ohio now owns 7,301 shares of the company’s stock valued at $125,000 after buying an additional 1,041 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sonic Automotive during the third quarter valued at $135,000. BNP Paribas Arbitrage SA boosted its stake in shares of Sonic Automotive by 82.7% in the second quarter. BNP Paribas Arbitrage SA now owns 10,444 shares of the company’s stock worth $179,000 after buying an additional 4,726 shares during the period. Clinton Group Inc. purchased a new stake in shares of Sonic Automotive during the second quarter worth approximately $187,000. Finally, OLD National Bancorp IN boosted its stake in shares of Sonic Automotive by 14.5% in the second quarter. OLD National Bancorp IN now owns 11,903 shares of the company’s stock worth $204,000 after buying an additional 1,511 shares during the period. 65.10% of the stock is currently owned by institutional investors.

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. 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.

5 Day Chart for NYSE:SAH

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