Sonic Corp. Given New $22.00 Price Target at Wunderlich (SONC)
Wunderlich boosted their price target on shares of Sonic Corp. (NASDAQ:SONC) from $19.00 to $22.00 in a research note issued on Wednesday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Wunderlich’s price objective would indicate a potential upside of 20.19% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray Cos. raised their price target on shares of Sonic Corp. from $16.00 to $19.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Separately, analysts at Stephens downgraded shares of Sonic Corp. to an “equal weight” rating in a research note to investors on Tuesday. Finally, analysts at Barclays downgraded shares of Sonic Corp. to an “underweight” rating in a research note to investors on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Sonic Corp. presently has an average rating of “Hold” and a consensus target price of $17.38.
Shares of Sonic Corp. (NASDAQ:SONC) traded up 0.25% during mid-day trading on Wednesday, hitting $18.305. 470,195 shares of the company’s stock traded hands. Sonic Corp. has a 52 week low of $9.06 and a 52 week high of $18.25. The stock has a 50-day moving average of $16.25 and a 200-day moving average of $14.06. The company has a market cap of $1.023 billion and a price-to-earnings ratio of 27.05.
Sonic Corp. (NASDAQ:SONC) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.30 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.30. The company had revenue of $158.80 million for the quarter, compared to the consensus estimate of $155.78 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts expect that Sonic Corp. will post $0.84 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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