Shares of Sonic Automotive Inc (NYSE:SAH) reached a new 52-week high on Wednesday . The stock traded as high as $23.00 and last traded at $22.95, with a volume of 4210 shares. The stock had previously closed at $22.75.
Several analysts recently weighed in on the company. Morgan Stanley lifted their price target on Sonic Automotive from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, March 14th. ValuEngine raised Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Sonic Automotive presently has a consensus rating of “Hold” and a consensus price target of $23.25.
The firm has a market cap of $968.61 million, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.84 and a beta of 1.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.04 and a quick ratio of 0.22.
Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Thursday, April 26th. The company reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Sonic Automotive had a return on equity of 11.09% and a net margin of 0.92%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. equities research analysts predict that Sonic Automotive Inc will post 2.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.24 annualized dividend and a yield of 1.04%. Sonic Automotive’s dividend payout ratio is presently 12.97%.
In other news, CFO Heath Byrd sold 8,500 shares of Sonic Automotive stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $23.00, for a total value of $195,500.00. Following the transaction, the chief financial officer now owns 153,535 shares in the company, valued at approximately $3,531,305. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman O Bruton Smith purchased 15,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was acquired at an average price of $21.41 per share, for a total transaction of $321,150.00. Following the purchase, the chairman now owns 909,691 shares in the company, valued at approximately $19,476,484.31. The disclosure for this purchase can be found here. 32.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC bought a new position in shares of Sonic Automotive in the 4th quarter valued at $271,000. Stone Ridge Asset Management LLC bought a new stake in Sonic Automotive during the 4th quarter worth $297,000. Crossmark Global Holdings Inc. grew its position in Sonic Automotive by 16.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 20,056 shares of the company’s stock worth $370,000 after acquiring an additional 2,873 shares during the last quarter. Pinebridge Investments L.P. grew its position in Sonic Automotive by 699.4% during the 4th quarter. Pinebridge Investments L.P. now owns 24,941 shares of the company’s stock worth $460,000 after acquiring an additional 21,821 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Sonic Automotive by 25.9% during the 4th quarter. Wells Fargo & Company MN now owns 37,481 shares of the company’s stock worth $692,000 after acquiring an additional 7,703 shares during the last quarter. Institutional investors own 63.62% 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 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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