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Sonic Automotive, Inc. (NYSE:SAH) is included among the 15 Dividend Growth Stocks with the Highest Growth Rates.
Sonic Automotive, Inc. (NYSE:SAH) is one of the largest automotive retailers in the US, operating through three core segments: Franchised Dealerships for new and luxury vehicles, EchoPark for pre-owned cars, and Powersports for motorcycles and ATVs.
On October 24, Needham analyst reduced the firm’s price target on Sonic Automotive, Inc. (NYSE:SAH) from $95 to $90 while maintaining a Buy rating on the stock. In a note to investors, the firm noted that while Sonic’s franchise segment delivered solid results in the third quarter, performance was tempered by ongoing volatility at its EchoPark division amid a sluggish recovery in the used car market.
Despite near-term challenges, Needham remains optimistic about the company’s long-term prospects, citing Sonic’s strong presence in premium brands and the unique EchoPark model that supports sustained unit growth over time.
Sonic Automotive, Inc. (NYSE:SAH)’s cash position has also remained stable over the years, which has eventually resulted in the company’s dividend growth. The company has been growing its dividends for the past five years, and during this period, its dividend growth rate has come in at over 29%. Currently, it offers a quarterly dividend of $0.38 per share and has a dividend yield of 2.44%, as of October 30.
While we acknowledge the potential of SAH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 13 Most Undervalued Dividend Stocks to Buy According to Wall Street Analysts and 11 Best FTSE Dividend Stocks to Buy Right Now.
Disclosure: None.
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