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Investment analysts at Jefferies Group boosted their price objective on shares of Sonic (NASDAQ:SONC) from $20.00 to $22.00 in a note issued to investors on Wednesday. Jefferies Group’s target price would suggest a potential downside of 3.38% from the stock’s previous close.

SONC has been the subject of a number of other recent research reports. Analysts at Susquehanna raised their price target on shares of Sonic from $21.00 to $22.00 in a research note on Tuesday. Separately, analysts at Wunderlich raised their price target on shares of Sonic from $25.00 to $26.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer upgraded shares of Sonic from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 8th. They now have a $25.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $21.23.

Shares of Sonic (NASDAQ:SONC) traded up 0.09% during mid-day trading on Wednesday, hitting $22.77. The stock had a trading volume of 742,449 shares. Sonic has a 52 week low of $13.63 and a 52 week high of $23.56. The stock’s 50-day moving average is $21.10 and its 200-day moving average is $20.46. The company has a market cap of $1.238 billion and a P/E ratio of 33.51.

Sonic (NASDAQ:SONC) last released its earnings data on Monday, June 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $152.20 million for the quarter, compared to the consensus estimate of $148.55 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 3.8% 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.

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