Sonic Corp. Now Covered by Analysts at UBS AG (SONC)
Equities researchers at UBS AG initiated coverage on shares of Sonic Corp. (NASDAQ:SONC) in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “sell” rating on the stock.
Shares of Sonic Corp. (NASDAQ:SONC) traded down 4.76% during mid-day trading on Wednesday, hitting $19.19. 1,926,339 shares of the company’s stock traded hands. Sonic Corp. has a 52-week low of $10.73 and a 52-week high of $21.48. The stock has a 50-day moving average of $20.29 and a 200-day moving average of $17.82. The company has a market cap of $1.079 billion and a P/E ratio of 31.48.
Sonic Corp. (NASDAQ:SONC) last announced its earnings results on Monday, January 6th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $126.70 million for the quarter, compared to the consensus estimate of $127.99 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that Sonic Corp. will post $0.83 earnings per share for the current fiscal year.
A number of other firms have also recently commented on SONC. Analysts at Wunderlich reiterated a “buy” rating on shares of Sonic Corp. in a research note to investors on Tuesday. They now have a $23.00 price target on the stock, up previously from $22.00. Separately, analysts at Buckingham Research initiated coverage on shares of Sonic Corp. in a research note to investors on Wednesday, December 4th. They set a “buy” rating and a $24.00 price target on the stock. Finally, analysts at William Blair upgraded shares of Sonic Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Sonic Corp. has a consensus rating of “Hold” and an average target price of $18.22.
Sonic Corp. (NASDAQ:SONC) operates and franchises chain of drive-in restaurants (Sonic Drive-Ins) in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.