Sonic Corporation (SONC) was Reiterated by Deutsche Bank to “Hold” while Lowering the Price Target of the company shares to $ 33 from a previous price target of $35 . Deutsche Bank advised their investors in a research report released on Jun 7, 2016.
Many Wall Street Analysts have commented on Sonic Corporation. Company shares were Reiterated by Piper Jaffray on Apr 6, 2016 to “Overweight”, Firm has raised the Price Target to $ 42 from a previous price target of $37 .Company shares were Reiterated by UBS on Mar 30, 2016 to “Neutral”, Firm has raised the Price Target to $ 33 from a previous price target of $28 .Company shares were Reiterated by Deutsche Bank on Mar 30, 2016 to “Hold”, Firm has raised the Price Target to $ 35 from a previous price target of $32 .
On the company’s financial health, Sonic Corporation reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Mar 29, 2016. Analyst had a consensus of $0.16. The company had revenue of $133.20 million for the quarter, compared to analysts expectations of $127.85 million. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.
Sonic Corporation closed down -0.25 points or -0.82% at $30.13 with 9,59,104 shares getting traded on Friday. Post opening the session at $30.43, the shares hit an intraday low of $29.66 and an intraday high of $30.485 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jun 1, 2016, Craig Jeffrey Miller (Former Officer of Subsidiary) sold 25,394 shares at $30.00 per share price. According to the SEC, on May 27, 2016, Kathy L Taylor (director) purchased 10,000 shares at $29.85 per share price. On Apr 26, 2016, Frank E Iii Richardson (director) sold 45,005 shares at $34.91 per share price, according to the Form-4 filing with the securities and exchange commission.
Sonic Corp. operates and franchises a chain of drive-in restaurants in the United States. The Company has around 3512 Sonic Drive-Ins in 44 states of the United States. The Company’s product categories include Burgers Coneys and Hot Dogs Chicken Breakfast Snacks and Sides Drinks Ice Cream and Wacky Pack. The Company’s products include SONIC Cheeseburger SuperSONIC Double Cheeseburger Chili Cheese Coney Chicago Dog Garlic Parmesan Boneless Wings Buffalo Boneless Wings BREAKFAST TOASTER SuperSONIC Breakfast Burrito Natural-Cut Fries Onion Rings Minute Maid Cranberry Juice Slush DR PEPPER SONIC Energy Zero Calorie OREO & Cake Shake Banana Split Master Blast and Waffle Cone Sundae with Chocolate & Reeses Cups among others. The Company offers Wacky Pack for kids. The Company also offers SONIC Wacky application which is available on Google Play and iTunes App Store.