Sonic Revolution

Main Menu

  • Home
  • Game console
  • Gaming company
  • Gaming stock
  • Sonic team
  • Video game

Sonic Revolution

Header Banner

Sonic Revolution

  • Home
  • Game console
  • Gaming company
  • Gaming stock
  • Sonic team
  • Video game
Sonic team
Home›Sonic team›Zacks Investment Research reduces ownership of Sonic Automotive (NYSE: SAH)

Zacks Investment Research reduces ownership of Sonic Automotive (NYSE: SAH)

By Wanda Tengan
September 28, 2021
0
0

Sonic Automotive (NYSE: SAH) has been downgraded from Zacks investment research from a “buy” note to a “keep” note in a report published on Tuesday, Zacks.com reports. They currently have a price target of $ 59.00 on the stock. Zacks investment researchThe stock price target would indicate a potential rise of 6.33% from the stock’s previous close.

According to Zacks, “Sonic’s EchoPark unit is the main growth driver for the business. Strong organic growth fueled by the expansion of EchoPark has the potential to improve the company’s outlook. The impending takeover of RFJ Auto Partners is expected to add $ 3.2 billion to Sonic’s annual revenue and catapult the company into the top five of the largest dealer groups in the United States. The emphasis on e-commerce initiatives and investor-friendly initiatives is commendable. However, while the company’s massive expansion plans are likely to spur long-term growth, it will also put a strain on short-term finances. Sonic’s stretched track record also plays a spoiling role. In addition, the resurgence of coronavirus cases and the semiconductor shortage could pose problems for the auto retailer in the near future. As such, it is advisable to wait for a better access point. “

Separately, Morgan Stanley raised its price target for Sonic Automotive stock from $ 52.00 to $ 55.00 and gave the stock an “equal weight” rating in a research note on Thursday August 5th. . Two investment analysts gave the stock a conservation rating and three gave the company a buy rating. According to MarketBeat.com, the company has an average “Buy” rating and an average target price of $ 54.40.

(A d)

I’m considering a BIG overnight swap opportunity next week … it’s so big …

I’ll give it to you for FREE!

In fact, for the week of October 4-8, you can participate in our FREE open house!

You can get ALL of our Overnight Trade recommendations, plus ALL of our research and recommendations in real time!

Sonic automotive stock traded at $ 1.13 in Tuesday’s session, reaching $ 55.49. The company had a trading volume of 9,910 shares, compared to its average volume of 301,534. Sonic Automotive has a one-year low at $ 34.05 and a one-year high at $ 58.00. The company has a current ratio of 1.05, a quick ratio of 0.43, and a debt ratio of 0.74. The company’s 50-day simple moving average is $ 51.49 and its 200-day simple moving average is $ 49.65. The stock has a market cap of $ 2.31 billion, a price-to-earnings ratio of 8.51, and a beta of 2.55.

Sonic Automotive (NYSE: SAH) last released its results on Wednesday, July 28. The company reported earnings per share of $ 2.63 for the quarter, beating the consensus estimate of $ 1.56 by Thomson Reuters by $ 1.07. Sonic Automotive had a net margin of 2.48% and a return on equity of 34.65%. The company posted revenue of $ 3.35 billion in the quarter, compared to a consensus estimate of $ 2.99 billion. As a group, analysts expect Sonic Automotive to post earnings per share of 6.83 for the current fiscal year.

Institutional investors have recently changed their holdings in the company. Northwestern Mutual Wealth Management Co. increased its stake in Sonic Automotive shares by 138.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 976 shares of the company valued at $ 44,000 after acquiring an additional 567 shares during the period. Ameritas Investment Company LLC acquired a new equity interest in Sonic Automotive during the first quarter valued at $ 52,000. Point72 Hong Kong Ltd increased its stake in shares of Sonic Automotive by 522.2% in the first quarter. Point72 Hong Kong Ltd now owns 3,559 shares of the company valued at $ 176,000 after purchasing an additional 2,987 shares in the last quarter. Captrust Financial Advisors increased its stakes in shares of Sonic Automotive by 8,817.8% during the first quarter. Captrust Financial Advisors now owns 4,013 shares of the company valued at $ 199,000 after purchasing an additional 3,968 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in the shares of Sonic Automotive during the first quarter for a value of $ 225,000. 56.44% of the capital is held by institutional investors.

About Sonic Automobile

Sonic Automotive, Inc. operates as an automotive retailer. Its services include the sale of new and used cars and light trucks, the sale of spare parts and the performance of vehicle maintenance, warranty, painting and repair services and the conclusion of service contracts. extended service, financing, insurance, vehicle protection products and other aftermarket automotive products. customers.

Further reading: Fibonacci channel

Get a Free Copy of Zacks’ Sonic Automotive (SAH) Research Report

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Sonic Automotive right now?

Before you consider Sonic Automotive, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of … and Sonic Automotive was not on the list.

While Sonic Automotive currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here


Source link

Related posts:

  1. Automatic Ultrasonic Cleaning Machines Market Size and Forecast to 2027
  2. Global Vehicle Display Market 2021 Revenue – Mitsubishi, Denso, Sharp, Calsonic Kansei – The Courier
  3. Textured Soy Protein Market Research Report By Source, By
  4. Sonic the Hedgehog is officially a VTuber

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021

Categories

  • Game console
  • Gaming company
  • Gaming stock
  • Sonic team
  • Video game

Recent Posts

  • Some Xbox gamers are about to get a big new party chat feature
  • List of movies for the week of May 13
  • Konami signs video game partnership with Club America Football
  • 4 New Orleans Saints whose stock rose after 2022 NFL Draft
  • Roblox, Electronic Arts, Coinbase, RealReal and more
  • Privacy Policy
  • Terms and Conditions