Sonic VP Sells $22,500 in Stock (SONC)
Sonic (NASDAQ:SONC) VP Carolyn C. Cummins unloaded 1,000 shares of Sonic stock on the open market in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $22.50, for a total transaction of $22,500.00. Following the completion of the transaction, the vice president now directly owns 13,791 shares in the company, valued at approximately $310,298. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on SONC. Analysts at Barrington Research initiated coverage on shares of Sonic in a research note on Friday, June 27th. They set a “market perform” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Sonic from $20.00 to $22.00 in a research note on Wednesday, June 25th. Finally, analysts at Susquehanna raised their price target on shares of Sonic from $21.00 to $22.00 in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.45.
Shares of Sonic (NASDAQ:SONC) traded down 0.31% during mid-day trading on Monday, hitting $22.48. The stock had a trading volume of 615,563 shares. Sonic has a one year low of $14.88 and a one year high of $23.74. The stock’s 50-day moving average is $21.59 and its 200-day moving average is $20.55. The company has a market cap of $1.222 billion and a price-to-earnings ratio of 31.32.
Sonic (NASDAQ:SONC) last announced its earnings results on Monday, June 23rd. The company reported $0.30 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.26 earnings per share. Sonic’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that Sonic will post $0.83 earnings per share 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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