Bank of America Securities analyst John Murphy maintained a Sell rating on Sonic Automotive (SAH – Research Report) yesterday and set a price target of $55.00. The company’s shares closed yesterday at $50.81.
Murphy covers the Industrials sector, focusing on stocks such as Kar Auction Services, BorgWarner, and General Motors. According to TipRanks, Murphy has an average return of 9.7% and a 58.15% success rate on recommended stocks.
Sonic Automotive has an analyst consensus of Hold, with a price target consensus of $57.00.
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Based on Sonic Automotive’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.49 billion and a net profit of $47.7 million. In comparison, last year the company earned a revenue of $3.59 billion and had a net profit of $97.3 million
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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 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.
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