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It is no secret that car dealers have been raking in the big bucks. Scarcity coming from manufacturers has allowed them to make money coming and going. Whether it’s new or used, dealers are marking up cars to astronomical levels. Good luck finding something new under MSRP nowadays and used car prices are so high that sometimes they are worth more than the new ones.
This has helped stocks out there like today’s Bull of the Day Sonic Automotive (SAH - Free Report) . Sonic Automotive, Inc. operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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. The EchoPark segment sells used cars and light trucks; and arranges finance and insurance product sales in pre-owned vehicle specialty retail locations. As of December 31, 2020, the company operated 96 new vehicle franchises representing 21 brands of cars and light trucks; 14 collision repair centers in 12 states; and 16 EchoPark stores.
Sonic is a Zacks Rank #1 (Strong Buy). In addition to the favorable Zacks Rank, Sonic enjoys a Zacks Value Style Score of A, Growth of A and Momentum of A to help it round out with a VGM Composite Score of A. The Automotive – Retail and Whole Sales industry ranks in the Top 2% of our Zacks Industry Rank, making this just about the most attractive a stock could possibly be in terms of the Zacks Rank.
The reason for the favorable rank stems from the series of earnings estimate increases coming from analysts. Over the last sixty days, four analysts have increased their estimates for next year, while one has done so for next quarter. The bullish move has pushed up our Zacks Consensus Estimate for next quarter from $1.73 to $2.22 while next year’s number is up from $8.74 to $9.35.
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Bull of the Day: Sonic Automotive (SAH)
It is no secret that car dealers have been raking in the big bucks. Scarcity coming from manufacturers has allowed them to make money coming and going. Whether it’s new or used, dealers are marking up cars to astronomical levels. Good luck finding something new under MSRP nowadays and used car prices are so high that sometimes they are worth more than the new ones.
This has helped stocks out there like today’s Bull of the Day Sonic Automotive (SAH - Free Report) . Sonic Automotive, Inc. operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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. The EchoPark segment sells used cars and light trucks; and arranges finance and insurance product sales in pre-owned vehicle specialty retail locations. As of December 31, 2020, the company operated 96 new vehicle franchises representing 21 brands of cars and light trucks; 14 collision repair centers in 12 states; and 16 EchoPark stores.
Sonic is a Zacks Rank #1 (Strong Buy). In addition to the favorable Zacks Rank, Sonic enjoys a Zacks Value Style Score of A, Growth of A and Momentum of A to help it round out with a VGM Composite Score of A. The Automotive – Retail and Whole Sales industry ranks in the Top 2% of our Zacks Industry Rank, making this just about the most attractive a stock could possibly be in terms of the Zacks Rank.
The reason for the favorable rank stems from the series of earnings estimate increases coming from analysts. Over the last sixty days, four analysts have increased their estimates for next year, while one has done so for next quarter. The bullish move has pushed up our Zacks Consensus Estimate for next quarter from $1.73 to $2.22 while next year’s number is up from $8.74 to $9.35.