Sonic Corp. Director Frank E. Richardson III Sells 9,600 Shares (SONC)
Sonic Corp. (NASDAQ:SONC) Director Frank E. Richardson III sold 9,600 shares of Sonic Corp. stock on the open market in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $19.14, for a total transaction of $183,744.00. Following the transaction, the director now directly owns 1,706,545 shares of the company’s stock, valued at approximately $32,663,271. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. 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, January 13th. 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $18.22.
Shares of Sonic Corp. (NASDAQ:SONC) traded down 3.01% on Monday, hitting $18.35. The stock had a trading volume of 590,928 shares. Sonic Corp. has a 1-year low of $10.96 and a 1-year high of $21.48. The stock has a 50-day moving average of $20.27 and a 200-day moving average of $18.22. The company has a market cap of $1.036 billion and a P/E ratio of 28.20.
Sonic Corp. (NASDAQ:SONC) last issued its quarterly earnings data 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. 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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