Sonic Automotive Inc. (NYSE:SAH) shares traded -4.47% lower at $53.48 on Wall Street last session.
In accordance with the data, 9 analysts cover Sonic Automotive Inc. (NYSE:SAH). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $71.00 and a low of $35.00, we find $55.00. Given the previous closing price of $55.98, this indicates a potential downside of -1.75 percent. SAH stock price is now -1.10% away from the 50-day moving average and 11.99% away from the 200-day moving average. The market capitalization of the company currently stands at $1.98B.
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It has been rated a hold by 4 analysts and a buy by 2. Brokers who have rated the stock have averaged $56.50 as their price target over the next twelve months.
With the price target reduced from $60 to $55, JP Morgan Downgraded its rating from Overweight to Neutral for Sonic Automotive Inc. (NYSE: SAH). On October 06, 2022, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock keeping its target price maintained at $60, while ‘BofA Securities’ rates the stock as ‘Underperform’.
In other news, DYKE JEFF, President sold 93,114 shares of the company’s stock on Feb 17. The stock was sold for $5,336,363 at an average price of $57.31. Upon completion of the transaction, the President now directly owns 818,699 shares in the company, valued at $43.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 17, President DYKE JEFF sold 22,710 shares of the business’s stock. A total of $1,290,609 was realized by selling the stock at an average price of $56.83. This leaves the insider owning 176,622 shares of the company worth $9.45 million. Insiders disposed of 429,598 shares of company stock worth roughly $22.97 million over the past 1 year. A total of 7.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SAH stock. A new stake in Sonic Automotive Inc. shares was purchased by INTRINSIC EDGE CAPITAL MANAGEMENT LLC during the first quarter worth $14,316,000. HRT FINANCIAL LP invested $4,369,000 in shares of SAH during the first quarter. In the first quarter, ERGOTELES LLC acquired a new stake in Sonic Automotive Inc. valued at approximately $2,968,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in SAH for approximately $1,919,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND purchased a new stake in SAH valued at around $1,284,000 in the second quarter. In total, there are 287 active investors with 86.90% ownership of the company’s stock.
Sonic Automotive Inc. (NYSE: SAH) opened at $54.34 on Monday. During the past 12 months, Sonic Automotive Inc. has had a low of $34.17 and a high of $62.26. As of last week, the company has a debt-to-equity ratio of 3.60, a current ratio of 1.20, and a quick ratio of 0.50. The fifty day moving average price for SAH is $54.08 and a two-hundred day moving average price translates $47.76 for the stock.
The latest earnings results from Sonic Automotive Inc. (NYSE: SAH) was released for Sep, 2022. According to the Auto & Truck Dealerships Company, earnings per share came in at $2.23, missing analysts’ expectations of $2.47 by -0.24. This compares to $2.24 EPS in the same period last year. The net profit margin was 0.60% and return on equity was 8.20% for SAH. The company reported revenue of $3.46 billion for the quarter, compared to $3.18 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.65 percent. For the current quarter, analysts expect SAH to generate $3.55B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/14/2023. Investors who held shares on 03/15/2023 were paid a $0.28 dividend. On an annualized basis, this represents a $1.12 dividend and a 2.09% percent yield. There was an ex-dividend date of 03/14/2023 for this dividend. In terms of dividend payout ratio, SAH is presently at 55.00%.
Sonic Automotive Inc.(SAH) Company Profile
Sonic Automotive, Inc. operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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 for its guests. The EchoPark segment sells used cars and light trucks; and arranges finance and insurance product sales for its guests in pre-owned vehicle specialty retail locations. Sonic Automotive, Inc. was incorporated in 1997 and is based in Charlotte, North Carolina.
