Sonic Automotive (SAH) Downgraded to “Sell” at ValuEngine

Sonic Automotive (NYSE:SAH) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

SAH has been the subject of a number of other research reports. Zacks Investment Research raised shares of Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Morgan Stanley lowered shares of Sonic Automotive from an “overweight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research note on Tuesday, July 10th. Buckingham Research decreased their price objective on shares of Sonic Automotive from $21.00 to $19.00 and set a “$19.55” rating for the company in a research note on Wednesday, July 18th. Finally, Stephens reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Sonic Automotive in a research note on Friday, July 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.40.

Sonic Automotive stock opened at $18.12 on Thursday. Sonic Automotive has a 52 week low of $16.75 and a 52 week high of $23.60. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 0.21. The company has a market capitalization of $799.55 million, a P/E ratio of 9.79, a PEG ratio of 4.20 and a beta of 1.62.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Sonic Automotive had a net margin of 0.91% and a return on equity of 10.27%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the business posted $0.40 EPS. Equities analysts forecast that Sonic Automotive will post 1.94 EPS for the current year.

Several large investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Sonic Automotive by 7.6% during the 2nd quarter. BlackRock Inc. now owns 4,006,284 shares of the company’s stock valued at $82,530,000 after buying an additional 283,665 shares during the period. Towle & Co. boosted its stake in shares of Sonic Automotive by 6.1% during the 2nd quarter. Towle & Co. now owns 1,177,838 shares of the company’s stock valued at $24,263,000 after buying an additional 67,529 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Sonic Automotive by 9.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 507,085 shares of the company’s stock valued at $10,446,000 after buying an additional 43,392 shares during the period. Bank of America Corp DE boosted its stake in shares of Sonic Automotive by 6.5% during the 2nd quarter. Bank of America Corp DE now owns 117,291 shares of the company’s stock valued at $2,417,000 after buying an additional 7,175 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Sonic Automotive by 23.2% during the 1st quarter. JPMorgan Chase & Co. now owns 72,859 shares of the company’s stock valued at $1,381,000 after buying an additional 13,699 shares during the period. 63.59% of the stock is owned by institutional investors.

Sonic Automotive Company Profile

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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