Jefferies Initiates Coverage on Sonic Automotive Inc to Hold

Jefferies Initiates Coverage on Sonic Automotive Inc(NYSE:SAH). The shares have been rated Hold. The rating by Jefferies was issued on Apr 11, 2016.

Sonic Automotive Inc (SAH) made into the market gainers list on Fridays trading session with the shares advancing 0.92% or 0.16 points. Due to strong positive momentum, the stock ended at $17.47, which is also near the day’s high of $17.65. The stock began the session at $17.3 and the volume stood at 3,16,039 shares. The 52-week high of the shares is $25.77 and the 52 week low is $15.68. The company has a current market capitalization of $804 M and it has 4,60,40,239 shares in outstanding.

Sonic Automotive Inc(SAH) last announced its earnings results on Feb 23, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $2.47B. Analysts had an estimated revenue of $2.48B. Earnings per share were $0.61. Analysts had estimated an EPS of $0.59.

Several Insider Transactions has been reported to the SEC. On Mar 10, 2016, Victor H Doolan (director) sold 3,500 shares at $19.48 per share price.Also, On Nov 3, 2015, Bryan Scott Smith (CEO and President) sold 124,778 shares at $25.02 per share price.On Mar 27, 2015, David Bruton Smith (Vice Chairman) sold 20,000 shares at $24.65 per share price, according to the Form-4 filing with the securities and exchange commission.

Sonic Automotive Inc. is an automotive retailer in the United States. The Company operates through two segments: Franchised Dealerships and EchoPark. The Franchised Dealerships segment consists of traditional retail automotive franchises that sell new and used vehicles replacement parts and vehicle repair and maintenance services and finance and insurance products. The EchoPark segment consists of standalone pre-owned specialty retail locations that provide customers an opportunity to search buy service and sell their pre-owned vehicles. The Company’s dealerships provide services such as sales of new and used cars and light trucks sales of replacement parts performance of vehicle maintenance manufacturer warranty repairs paint and collision repair services and arrangement of extended warranties service contracts financing insurance and other aftermarket products. The Company’s specialty retail locations operate under the EchoPark brand.

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