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

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Sonic Automotive (NYSE:SAH) had its price objective lifted by equities researchers at Buckingham Research from $15.00 to $20.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the stock. Buckingham Research’s target price would suggest a potential downside of 15.25% from the company’s current price.

Several other equities research analysts have also recently weighed in on SAH. Morgan Stanley upped their target price on Sonic Automotive from $10.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, May 6th. ValuEngine cut Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. Stephens upgraded Sonic Automotive from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $30.00 in a research note on Wednesday, June 5th. Bank of America set a $275.00 target price on SVB Financial Group and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Zacks Investment Research cut Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $20.50.

Shares of NYSE:SAH opened at $23.60 on Monday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 13.33, a P/E/G ratio of 3.68 and a beta of 1.85. Sonic Automotive has a 1 year low of $12.78 and a 1 year high of $24.05. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 1.03. The business’s 50 day moving average is $22.16.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.17. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.42 billion. Sonic Automotive had a return on equity of 10.12% and a net margin of 0.97%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 earnings per share. Sell-side analysts predict that Sonic Automotive will post 2.12 EPS for the current fiscal year.

In other Sonic Automotive news, CFO Heath Byrd sold 15,000 shares of the company’s stock in a transaction on 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 $4,182,911.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SAH. Louisiana State Employees Retirement System bought a new stake in Sonic Automotive in the second quarter worth $209,000. Crossmark Global Holdings Inc. lifted its stake in Sonic Automotive by 6.2% in the second quarter. Crossmark Global Holdings Inc. now owns 29,690 shares of the company’s stock worth $693,000 after purchasing an additional 1,737 shares during the last quarter. Denali Advisors LLC lifted its stake in Sonic Automotive by 135.6% in the second quarter. Denali Advisors LLC now owns 43,942 shares of the company’s stock worth $1,026,000 after purchasing an additional 25,289 shares during the last quarter. First Trust Advisors LP lifted its stake in Sonic Automotive by 2.1% in the first quarter. First Trust Advisors LP now owns 43,986 shares of the company’s stock worth $651,000 after purchasing an additional 885 shares during the last quarter. Finally, Globeflex Capital L P lifted its stake in Sonic Automotive by 18.0% in the first quarter. Globeflex Capital L P now owns 50,026 shares of the company’s stock worth $741,000 after purchasing an additional 7,635 shares during the last quarter. Institutional investors 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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