Sonic Corp. VP Unloads $27,435 in Stock (SONC)
Sonic Corp. (NASDAQ:SONC) VP Carolyn Cummins sold 1,500 shares of Sonic Corp. stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $18.29, for a total value of $27,435.00. Following the completion of the transaction, the vice president now directly owns 8,676 shares of the company’s stock. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SONC shares. Analysts at Lazard Capital Markets raised their price target on shares of Sonic Corp. (NASDAQ:SONC) from $17.00 to $20.00 in a research note to investors on Friday, September 13th. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Sonic Corp. (NASDAQ:SONC) in a research note to investors on Friday, September 13th. They now have a $18.00 price target on the stock, up previously from $15.50. Finally, analysts at Wunderlich initiated coverage on shares of Sonic Corp. (NASDAQ:SONC) in a research note to investors on Friday, September 6th. They set a “buy” rating and a $19.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.11.
Shares of Sonic Corp. (NASDAQ:SONC) traded down 1.71% during mid-day trading on Thursday, hitting $18.48. 605,519 shares of the company’s stock traded hands. Sonic Corp. has a 52-week low of $9.06 and a 52-week high of $18.93. The stock’s 50-day moving average is $16.51 and its 200-day moving average is $14.24. The company has a market cap of $1.033 billion and a price-to-earnings ratio of 27.85.
Sonic Corp. (NASDAQ:SONC) last issued its quarterly earnings data on Monday, June 24th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $146.60 million for the quarter, compared to the consensus estimate of $147.54 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts expect that Sonic Corp. will post $0.72 EPS for the current fiscal year.
Sonic Corp. (NASDAQ:SONC) operates and franchises chain of drive-in restaurants (Sonic Drive-Ins) in the United States.
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