Insider Selling: Sonic Corp. Director Sells 21,764 Shares of Stock (SONC)
Sonic Corp. (NASDAQ:SONC) Director Douglas N. Benham sold 21,764 shares of Sonic Corp. stock on the open market in a transaction dated Thursday, January 16th. The stock was sold at an average price of $20.62, for a total value of $448,773.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on SONC shares. Analysts at Thomson Reuters/Verus upgraded shares of Sonic Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday. Separately, analysts at Jefferson Research downgraded shares of Sonic Corp. from a “buy” rating to a “hold” rating in a research note to investors on Friday, January 10th. Finally, analysts at UBS AG initiated coverage on shares of Sonic Corp. in a research note to investors on Wednesday, January 8th. They set a “sell” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $18.22.
Sonic Corp. (NASDAQ:SONC) traded down 0.39% during mid-day trading on Friday, hitting $20.50. 394,292 shares of the company’s stock traded hands. Sonic Corp. has a 52-week low of $10.96 and a 52-week high of $21.48. The stock has a 50-day moving average of $20.31 and a 200-day moving average of $18.0. The company has a market cap of $1.158 billion and a price-to-earnings ratio of 30.67.
Sonic Corp. (NASDAQ:SONC) last issued its quarterly earnings data on Monday, January 6th. The company reported $0.13 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.11 earnings per share. Sonic Corp.’s revenue was up .6% compared to the same quarter last year. Analysts expect that Sonic Corp. will post $0.83 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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