Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $59.88 and traded as high as $63.93. Sonic Automotive shares last traded at $63.36, with a volume of 163,659 shares.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on SAH shares. Bank of America decreased their price target on shares of Sonic Automotive from $67.00 to $66.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Needham & Company LLC increased their price target on Sonic Automotive from $73.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Seaport Res Ptn raised Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. Finally, Morgan Stanley raised Sonic Automotive from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $40.00 to $58.00 in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sonic Automotive presently has an average rating of "Moderate Buy" and an average target price of $67.40.
View Our Latest Report on Sonic Automotive
Sonic Automotive Price Performance
The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. The business has a 50-day moving average of $65.12 and a 200 day moving average of $59.97. The firm has a market capitalization of $2.17 billion, a PE ratio of 11.27 and a beta of 1.67.
Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.17). The firm had revenue of $3.49 billion for the quarter, compared to analysts' expectations of $3.55 billion. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.02 earnings per share. As a group, research analysts anticipate that Sonic Automotive, Inc. will post 5.6 EPS for the current fiscal year.
Sonic Automotive Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.21%. This is a positive change from Sonic Automotive's previous quarterly dividend of $0.30. Sonic Automotive's dividend payout ratio (DPR) is presently 24.91%.
Institutional Trading of Sonic Automotive
A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of Sonic Automotive by 346.1% in the third quarter. Barclays PLC now owns 24,413 shares of the company's stock worth $1,427,000 after purchasing an additional 18,940 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Sonic Automotive by 124.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company's stock valued at $3,239,000 after acquiring an additional 30,731 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Sonic Automotive by 418.9% during the 3rd quarter. Intech Investment Management LLC now owns 21,692 shares of the company's stock valued at $1,269,000 after acquiring an additional 17,512 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Sonic Automotive by 524.4% during the 2nd quarter. Victory Capital Management Inc. now owns 100,602 shares of the company's stock valued at $5,480,000 after acquiring an additional 84,489 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Sonic Automotive during the third quarter worth about $532,000. Hedge funds and other institutional investors own 46.92% of the company's stock.
About Sonic Automotive
(
Get Free Report)
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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.
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