Sonic AutomotiveSAH
Market Cap: $1.96B
About: Sonic Automotive is one of the largest auto dealership groups in the United States. The company has 108 franchised stores in 18 states, primarily in metropolitan areas in California, Texas, and the Southeast, plus 25 EchoPark used-vehicle stores, 16 collision centers, and 13 powersports locations. The franchise stores derive revenue from new and used vehicles plus parts and collision repair, finance, insurance, and wholesale auctions. Luxury and import dealerships make up about 86% of franchise new-vehicle revenue, while Honda, BMW, Mercedes, and Toyota constitute about 58% of new-vehicle revenue. BMW is the largest brand at about 25%. 2023's revenue was $14.4 billion, with EchoPark's portion totaling $2.4 billion. Sonic bought RFJ Auto in December 2021, which added $3.2 billion in sales.
Employees: 10,500
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
63% more first-time investments, than exits
New positions opened: 26 | Existing positions closed: 16
59% more call options, than puts
Call options by funds: $1.24M | Put options by funds: $779K
5% more funds holding
Funds holding: 182 [Q1] → 192 (+10) [Q2]
6% more repeat investments, than reductions
Existing positions increased: 72 | Existing positions reduced: 68
2.16% less ownership
Funds ownership: 73.11% [Q1] → 70.94% (-2.16%) [Q2]
8% less capital invested
Capital invested by funds: $914M [Q1] → $845M (-$68.9M) [Q2]
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
4 analyst ratings
Needham Chris Pierce 35% 1-year accuracy 19 / 54 met price target | 26%upside $73 | Buy Reiterated | 20 Aug 2024 |
JP Morgan Rajat Gupta 69% 1-year accuracy 18 / 26 met price target | 9%upside $63 | Overweight Upgraded | 6 Aug 2024 |
B of A Securities John Murphy 49% 1-year accuracy 17 / 35 met price target | 16%upside $67 | Buy Maintained | 22 Jul 2024 |
JP Morgan Rajat Gupta 69% 1-year accuracy 18 / 26 met price target | 1%upside $58 | Neutral Upgraded | 10 Jun 2024 |