Sonic Automotive (SAH) Shares Up 0%
Sonic Automotive Inc (NYSE:SAH) shot up 0% during trading on Monday . The company traded as high as $21.03 and last traded at $20.95. 554,573 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 505,490 shares. The stock had previously closed at $20.95.
A number of equities research analysts have issued reports on SAH shares. Zacks Investment Research raised Sonic Automotive from a “sell” rating to a “hold” rating in a research report on Tuesday. Bank of America raised Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 price target for the company in a research report on Monday. ValuEngine raised Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, TheStreet raised Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.67.
The firm has a market capitalization of $904.95, a P/E ratio of 13.11, a P/E/G ratio of 3.35 and a beta of 1.57. The company has a quick ratio of 0.26, a current ratio of 1.06 and a debt-to-equity ratio of 1.41.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data 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 for 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 quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. equities analysts forecast that Sonic Automotive Inc will post 1.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Thursday, December 14th. Sonic Automotive’s dividend payout ratio is presently 12.82%.
In related news, CFO Heath Byrd sold 11,000 shares of the business’s stock in a transaction dated 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 owns 143,306 shares in the company, valued at $2,927,741.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeff Dyke sold 8,551 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $20.10, for a total value of $171,875.10. Following the completion of the transaction, the executive vice president now owns 1,262,056 shares in the company, valued at approximately $25,367,325.60. The disclosure for this sale can be found here. Insiders own 30.29% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in Sonic Automotive by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,854 shares of the company’s stock valued at $114,000 after buying an additional 878 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Sonic Automotive by 48.8% during the second quarter. BNP Paribas Arbitrage SA now owns 9,359 shares of the company’s stock valued at $182,000 after buying an additional 3,068 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Sonic Automotive by 7.0% during the second quarter. Public Employees Retirement System of Ohio now owns 9,515 shares of the company’s stock valued at $185,000 after buying an additional 624 shares in the last quarter. Laurion Capital Management LP acquired a new stake in Sonic Automotive during the second quarter valued at approximately $203,000. Finally, Jane Street Group LLC acquired a new stake in Sonic Automotive during the third quarter valued at approximately $260,000. Institutional investors and hedge funds own 64.40% 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.
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