Brokerages Set Sonic Automotive Inc (SAH) Price Target at $22.67
Shares of Sonic Automotive Inc (NYSE:SAH) have been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $23.25.
Several brokerages recently issued reports on SAH. Zacks Investment Research upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Monday. Morgan Stanley lowered shares of Sonic Automotive from an “overweight” rating to an “underweight” rating and set a $25.00 price target on the stock. in a research note on Tuesday, July 10th.
In other Sonic Automotive news, CFO Heath Byrd sold 8,500 shares of the business’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $23.00, for a total transaction of $195,500.00. Following the sale, the chief financial officer now directly owns 153,535 shares in the company, valued at $3,531,305. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman O Bruton Smith purchased 15,000 shares of the business’s stock in a transaction on Friday, May 25th. The shares were acquired at an average price of $21.41 per share, for a total transaction of $321,150.00. Following the completion of the purchase, the chairman now directly owns 909,691 shares of the company’s stock, valued at $19,476,484.31. The disclosure for this purchase can be found here. 32.30% of the stock is owned by corporate insiders.
SAH traded up $0.25 on Tuesday, hitting $20.40. The company had a trading volume of 129,800 shares, compared to its average volume of 237,818. The firm has a market cap of $857.67 million, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 1.62 and a beta of 1.60. Sonic Automotive has a 1 year low of $15.95 and a 1 year high of $23.60. The company has a current ratio of 1.04, a quick ratio of 0.22 and a debt-to-equity ratio of 1.31.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Thursday, April 26th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.35 billion. Sonic Automotive had a net margin of 0.92% and a return on equity of 11.09%. Sonic Automotive’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. equities research analysts forecast that Sonic Automotive will post 2.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 13th. Shareholders of record on Friday, June 15th were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, June 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.18%. Sonic Automotive’s dividend payout ratio (DPR) is presently 12.97%.
About Sonic Automotive
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and Pre-Owned Stores. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products.
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