SONIC AUTOMOTIVE (SAH): MAY HAVE CRACKED THE CODE FOR USED CAR SALES
Sonic Automotive is on the MATASII Watch List for the SII Auto Sector. Though we have a strong negative bias for this sector there may be a few exceptions who are taking advantage of the cyclical turmoil in the auto sector. One such participant may potentially be Sonic Automotive (SAH).
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A report out by Thomas Hughes posted at Seeking Alpha sheds some light on this opportunity.
- Sonic Automotive is a dividend growth stock on the move.
- The company's used car segment is driving growth.
- Earnings and analysts upgrades are driving the stock higher.
- It's not to late to participate - high-double digit gains are coming and soon.
- And don't forget, you get a dividend.
Auto sales are slowing, but not used car sales. Used car sales are being driven by consumer demand and the high cost of new cars. Sonic has tapped into the used car market and is wildly exceeding expectations. The company is planning to grow the Echo Park locations, further enhancing revenue and earnings potential. The company pays a decent dividend, the dividend is very safe and there is an expectation for future dividend increases. The stock is getting the attention of analysts, and it is on the move price-wise. I say Sonic Automotive is an absolute buy for growth, dividend and dividend growth investors alike.
[SITE INDEX -- SII: RETAIL - AUTO]
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SII: RETAIL - AUTO
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