Sonic Automotive, Inc. (SAH) Upgraded by TheStreet to B

Sonic Automotive, Inc. (NYSE:SAH) was upgraded by TheStreet from a “c+” rating to a “b” rating in a research note issued to investors on Wednesday.

Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded Sonic Automotive from a “sell” rating to a “hold” rating in a research note on Tuesday. KeyCorp restated a “hold” rating on shares of Sonic Automotive in a research note on Friday, September 1st. Jefferies Group LLC restated a “hold” rating and issued a $22.00 price target on shares of Sonic Automotive in a research note on Wednesday, July 19th. BidaskClub lowered Sonic Automotive from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Bank of America Corporation lowered Sonic Automotive from a “neutral” rating to an “underperform” rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.75.

Shares of Sonic Automotive (SAH) opened at 19.00 on Wednesday. The stock has a market cap of $833.36 million, a PE ratio of 12.79 and a beta of 1.51. Sonic Automotive has a 52-week low of $15.95 and a 52-week high of $27.45. The company’s 50-day moving average price is $19.64 and its 200-day moving average price is $18.86.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.06). Sonic Automotive had a net margin of 0.69% and a return on equity of 11.14%. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. Sonic Automotive’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Sonic Automotive will post $1.85 earnings per share for the current fiscal year.

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Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its stake in Sonic Automotive by 20.4% during the 1st quarter. Victory Capital Management Inc. now owns 4,976 shares of the company’s stock worth $100,000 after buying an additional 844 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Sonic Automotive by 78.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,153 shares of the company’s stock worth $100,000 after buying an additional 2,263 shares in the last quarter. Mason Street Advisors LLC increased its stake in Sonic Automotive by 7.1% during the 1st quarter. Mason Street Advisors LLC now owns 6,146 shares of the company’s stock worth $123,000 after buying an additional 405 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Sonic Automotive by 4.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock worth $178,000 after buying an additional 410 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Sonic Automotive by 48.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,359 shares of the company’s stock worth $182,000 after buying an additional 3,068 shares in the last quarter. Institutional investors own 63.74% of the company’s stock.

Sonic Automotive Company Profile

Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.

Analyst Recommendations for Sonic Automotive (NYSE:SAH)

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