Sonic Automotive Gets a Hold Rating from Jefferies

By Jason Carr

In a report issued on June 14, Daniel Binder from Jefferies reiterated a Hold rating on Sonic Automotive (NYSE: SAH), with a price target of $22. The company’s shares closed yesterday at $19.50.

According to TipRanks.com, Binder is a 5-star analyst with an average return of 7.6% and a 68.1% success rate. Binder covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Kar Auction Services Inc, and Container Store Group.

Sonic Automotive has an analyst consensus of Hold, with a price target consensus of $22.50.

The company has a one year high of $27.45 and a one year low of $16.08. Currently, Sonic Automotive has an average volume of 273.4K.

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Sonic Automotive, Inc. operates as a automotive retailer. Its services include sales of both new and used cars and light trucks, sales of replacement parts and performance of vehicle maintenance, warranty, paint and repair services and arrangement of extended service contracts, financing, insurance, vehicle protection products and other aftermarket products for automotive customers. The company operates its business through two segments: Franchised Dealerships and EchoPark. The Franchised Dealerships segment is comprised of retail automotive franchises that sell new vehicle and buy and sell used vehicles, replacement parts and vehicle repair and maintenance services, and finance and insurance products. The EchoPark segment is comprised of stand-alone specialty retail locations that provide customers an opportunity to search, buy, service, finance and sell pre-owned vehicles. Sonic Automotive was founded by Ollen Bruton Smith and Bryan Scott Smith in January 1997 and is headquartered in Charlotte, NC.