Price Target Update on Sonic (NASDAQ:SONC)

Sonic (NASDAQ:SONC) stock is expected to deviate a maximum of $3.24 from the average target price of $36.09 for the short term period. 11 Street Experts have initiated coverage on the stock with the most promising target being $42 and the most muted being $33.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Deutsche Bank maintains the rating on Sonic (NASDAQ:SONC). The brokerage firm has issued a Hold rating on the shares. The Analysts at the ratings agency raises the price target from $32 per share to $35 per share. The rating by the firm was issued on March 30, 2016.

Sonic (NASDAQ:SONC): stock turned positive on Thursday. Though the stock opened at $29.82, the bulls momentum made the stock top out at $30.45 level for the day. The stock recorded a low of $29.625 and closed the trading day at $30.35, in the green by 2.88%. The total traded volume for the day was 2,070,468. The stock had closed at $29.5 in the previous days trading.

The company shares have dropped -1.93% from its 1 Year high price. On Apr 6, 2016, the shares registered one year high at $36.34 and the one year low was seen on Sep 30, 2015. The 50-Day Moving Average price is $30.65 and the 200 Day Moving Average price is recorded at $31.12. On the companys insider trading activities, The Securities and Exchange Commission has divulged that Miller Craig Jeffrey, officer (Former Officer of Subsidiary) of Sonic Corp, had unloaded 25,394 shares at an average price of $30 in a transaction dated on May 27, 2016. The total value of the transaction was worth $761,820.

Sonic Corp. operates and franchises a chain of drive-in restaurants in the United States. The Company has around 3,512 Sonic Drive-Ins in 44 states of the United States. The Companys product categories include Burgers, Coneys and Hot Dogs, Chicken, Breakfast, Snacks and Sides, Drinks, Ice Cream, and Wacky Pack. The Companys 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.

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