Morgan Stanley Keeps Their Sell Rating on Sonic Automotive (SAH)

In a report released today, Adam Jonas from Morgan Stanley maintained a Sell rating on Sonic Automotive (SAHResearch Report), with a price target of $35.00. The company’s shares opened today at $52.36.

According to TipRanks, Jonas is a 5-star analyst with an average return of 8.1% and a 51.37% success rate. Jonas covers the Consumer Goods sector, focusing on stocks such as Tesla, Fisker, and Asbury.

Currently, the analyst consensus on Sonic Automotive is a Hold with an average price target of $50.25.

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The company has a one-year high of $59.19 and a one-year low of $34.17. Currently, Sonic Automotive has an average volume of 414K.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SAH in relation to earlier this year. Last month, Heath Byrd, the EVP & CFO of SAH sold 93,714.00 shares for a total of $3,867,377.03.

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.

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