Sonic Automotive (NYSE:SAH) Stock Price Down 11.3% After Earnings Miss

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) were down 11.3% during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $66.70 and last traded at $69.02. Approximately 51,061 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 215,806 shares. The stock had previously closed at $77.84.The company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.35). Sonic Automotive had a net margin of 1.07% and a return on equity of 21.40%. Sonic Automotive's revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. Get Sonic Automotive alerts:Analyst Ratings ChangesA number of equities analysts have commented on SAH shares. Needham & Company LLC reissued a "buy" rating and issued a $95.00 price target on shares of Sonic Automotive in a research note on Thursday, October 2nd. Wall Street Zen cut shares of Sonic Automotive from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Benchmark boosted their price target on shares of Sonic Automotive from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Citigroup boosted their price target on shares of Sonic Automotive from $81.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sonic Automotive from $74.00 to $76.00 and gave the stock an "underweight" rating in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sonic Automotive has an average rating of "Moderate Buy" and a consensus target price of $83.71.View Our Latest Stock Analysis on SAHInstitutional Investors Weigh In On Sonic AutomotiveHedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas raised its holdings in Sonic Automotive by 38.2% during the 1st quarter. Teacher Retirement System of Texas now owns 14,286 shares of the company's stock valued at $814,000 after buying an additional 3,952 shares during the last quarter. American Century Companies Inc. raised its holdings in Sonic Automotive by 23.0% during the 1st quarter. American Century Companies Inc. now owns 25,341 shares of the company's stock valued at $1,443,000 after buying an additional 4,745 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Sonic Automotive during the 1st quarter valued at $1,940,000. Cetera Investment Advisers bought a new stake in Sonic Automotive during the 1st quarter valued at $218,000. Finally, Jump Financial LLC bought a new stake in Sonic Automotive during the 1st quarter valued at $777,000. 46.92% of the stock is currently owned by institutional investors. Sonic Automotive Stock Down 11.5%The stock's fifty day moving average is $78.39 and its 200 day moving average is $74.03. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $2.35 billion, a P/E ratio of 15.31 and a beta of 0.95. About Sonic Automotive (Get Free Report)Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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 for its guests.Recommended StoriesFive stocks we like better than Sonic AutomotiveWhat is a Death Cross in Stocks?The Top 3 AI-Focused Defense Stocks to Put on Your RadarHow to Effectively Use the MarketBeat Ratings ScreenerBest Way to Invest in Gold Right Now—What Smart Money Is DoingComparing and Trading High PE Ratio StocksIs Oracle’s AI Rally Over? Wall Street Thinks ORCL Could Hit $400This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Sonic Automotive Right Now?Before you consider Sonic Automotive, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sonic Automotive wasn't on the list.While Sonic Automotive currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here