Buckingham Research Raises Sonic Automotive (NYSE:SAH) Price Target to $20.00

Sonic Automotive (NYSE:SAH) had its price target hoisted by Buckingham Research from $15.00 to $20.00 in a research note published on Monday, BenzingaRatingsTable reports. Buckingham Research currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. Stephens upgraded Sonic Automotive from an equal weight rating to an overweight rating and lifted their price objective for the stock from $19.00 to $30.00 in a report on Wednesday, June 5th. TheStreet upgraded BlackRock TCP Capital from a c+ rating to a b rating in a report on Tuesday, May 28th. Bank of America set a $275.00 price objective on SVB Financial Group and gave the stock a buy rating in a report on Friday, April 26th. ValuEngine downgraded Ultrapar Participacoes from a sell rating to a strong sell rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research downgraded Guaranty Federal Bancshares from a hold rating to a sell rating in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $20.50.

NYSE SAH opened at $23.91 on Monday. Sonic Automotive has a one year low of $12.78 and a one year high of $24.05. The stock has a 50-day simple moving average of $22.39. The company has a market cap of $1.02 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 3.71 and a beta of 1.85. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.03 and a quick ratio of 0.25.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.22 by $0.17. Sonic Automotive had a return on equity of 10.12% and a net margin of 0.97%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the company earned $0.26 EPS. Sonic Automotive’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Sonic Automotive will post 2.12 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. Sonic Automotive’s dividend payout ratio is currently 22.60%.

In other Sonic Automotive news, CFO Heath Byrd sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $23.60, for a total transaction of $354,000.00. Following the completion of the sale, the chief financial officer now directly owns 177,242 shares in the company, valued at approximately $4,182,911.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 31.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SAH. BNP Paribas Arbitrage SA lifted its position in shares of Sonic Automotive by 291.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,689 shares of the company’s stock valued at $99,000 after buying an additional 4,980 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Sonic Automotive by 436.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,786 shares of the company’s stock valued at $121,000 after buying an additional 7,148 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of Sonic Automotive during the 4th quarter valued at about $124,000. GSA Capital Partners LLP purchased a new position in shares of Sonic Automotive during the 4th quarter valued at about $150,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Sonic Automotive during the 2nd quarter valued at about $209,000. Institutional investors and hedge funds own 60.83% of the company’s stock.

About Sonic Automotive

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.

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Analyst Recommendations for Sonic Automotive (NYSE:SAH)

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