Sonic Automotive (SAH) Receives a Hold from Morgan Stanley

By Jason Carr

Morgan Stanley analyst Armintas Sinkevicius maintained a Hold rating on Sonic Automotive (SAHResearch Report) today and set a price target of $12.00. The company’s shares closed last Monday at $13.46.

According to TipRanks.com, Sinkevicius is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.2% and a 37.7% success rate. Sinkevicius covers the Services sector, focusing on stocks such as Penske Automotive Group, Group 1 Automotive, and Lithia Motors.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sonic Automotive with a $27.00 average price target, representing a 96.6% upside. In a report issued on March 20, J.P. Morgan also maintained a Hold rating on the stock with a $19.00 price target.

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Sonic Automotive’s market cap is currently $594.1M and has a P/E ratio of 4.20. The company has a Price to Book ratio of 1.47.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SAH in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 through the following segments: Franchised Dealerships and EchoPark. The Franchised Dealerships segment provides comprehensive services, which include sales of both new and used cars and light trucks, sales of replacement parts and performance of vehicle maintenance, manufacturer warranty repairs, and paint and collision repair services. The EchoPark segment sales used cars and light trucks. Sonic Automotive was founded by Ollen Bruton Smith and Bryan Scott Smith in January 1997 and is headquartered in Charlotte, NC.