Sonic Upgraded by Sterne Agee to Buy (SONC)
Sonic (NASDAQ:SONC) was upgraded by analysts at Sterne Agee from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on SONC. Analysts at Barclays raised their price target on shares of Sonic from $16.00 to $19.00 in a research note on Tuesday. They now have an “underweight” rating on the stock. Separately, analysts at Buckingham Research downgraded shares of Sonic from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. They now have a $24.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Jefferies Group raised their price target on shares of Sonic from $18.00 to $20.00 in a research note on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Sonic presently has an average rating of “Hold” and a consensus price target of $19.31.
Shares of Sonic (NASDAQ:SONC) opened at 20.42 on Wednesday. Sonic has a one year low of $12.35 and a one year high of $23.56. The stock has a 50-day moving average of $21. and a 200-day moving average of $19.80. The company has a market cap of $1.110 billion and a P/E ratio of 30.75.
Sonic (NASDAQ:SONC) last issued its quarterly earnings data on Monday, March 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $109.70 million for the quarter, compared to the consensus estimate of $110.87 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts expect that Sonic 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.
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.