Sonic Corp. (NASDAQ: SONC) has recently received a number of price target changes and ratings updates:

  • 10/10/2017 – Sonic Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sonic Corp. operates and franchises one of the largest chain of drive-in restaurants in the United States. Sonic restaurants offer made-to-order hamburgers and other sandwiches and feature Sonic signature items, such as footlong coney cheese dogs, hand-battered onion rings, tater tots, specialty soft drinks, including cherry limeades and slushes, and frozen desserts. At a typical Sonic restaurant, a customer drives into one of 24 to 36 covered drive-in spaces, orders through an intercom, and has the food delivered by a carhop within an average of four minutes. “
  • 10/6/2017 – Sonic Corp. had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $29.00 price target on the stock.
  • 9/28/2017 – Sonic Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $28.00 price target on the stock. According to Zacks, “Sonic Corp. operates and franchises one of the largest chain of drive-in restaurants in the United States. Sonic restaurants offer made-to-order hamburgers and other sandwiches and feature Sonic signature items, such as footlong coney cheese dogs, hand-battered onion rings, tater tots, specialty soft drinks, including cherry limeades and slushes, and frozen desserts. At a typical Sonic restaurant, a customer drives into one of 24 to 36 covered drive-in spaces, orders through an intercom, and has the food delivered by a carhop within an average of four minutes. “
  • 9/27/2017 – Sonic Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sonic Corp. operates and franchises one of the largest chain of drive-in restaurants in the United States. Sonic restaurants offer made-to-order hamburgers and other sandwiches and feature Sonic signature items, such as footlong coney cheese dogs, hand-battered onion rings, tater tots, specialty soft drinks, including cherry limeades and slushes, and frozen desserts. At a typical Sonic restaurant, a customer drives into one of 24 to 36 covered drive-in spaces, orders through an intercom, and has the food delivered by a carhop within an average of four minutes. “
  • 9/22/2017 – Sonic Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $28.00 price target on the stock. According to Zacks, “Sonic Corp. operates and franchises one of the largest chain of drive-in restaurants in the United States. Sonic restaurants offer made-to-order hamburgers and other sandwiches and feature Sonic signature items, such as footlong coney cheese dogs, hand-battered onion rings, tater tots, specialty soft drinks, including cherry limeades and slushes, and frozen desserts. At a typical Sonic restaurant, a customer drives into one of 24 to 36 covered drive-in spaces, orders through an intercom, and has the food delivered by a carhop within an average of four minutes. “
  • 9/18/2017 – Sonic Corp. is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $28.00 price target on the stock.
  • 9/14/2017 – Sonic Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sonic Corp. operates and franchises one of the largest chain of drive-in restaurants in the United States. Sonic restaurants offer made-to-order hamburgers and other sandwiches and feature Sonic signature items, such as footlong coney cheese dogs, hand-battered onion rings, tater tots, specialty soft drinks, including cherry limeades and slushes, and frozen desserts. At a typical Sonic restaurant, a customer drives into one of 24 to 36 covered drive-in spaces, orders through an intercom, and has the food delivered by a carhop within an average of four minutes. “
  • 9/13/2017 – Sonic Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $26.00 price target on the stock. According to Zacks, “Sonic Corp. operates and franchises one of the largest chain of drive-in restaurants in the United States. Sonic restaurants offer made-to-order hamburgers and other sandwiches and feature Sonic signature items, such as footlong coney cheese dogs, hand-battered onion rings, tater tots, specialty soft drinks, including cherry limeades and slushes, and frozen desserts. At a typical Sonic restaurant, a customer drives into one of 24 to 36 covered drive-in spaces, orders through an intercom, and has the food delivered by a carhop within an average of four minutes. “
  • 8/24/2017 – Sonic Corp. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Sonic Corp. operates and franchises one of the largest chain of drive-in restaurants in the United States. Sonic restaurants offer made-to-order hamburgers and other sandwiches and feature Sonic signature items, such as footlong coney cheese dogs, hand-battered onion rings, tater tots, specialty soft drinks, including cherry limeades and slushes, and frozen desserts. At a typical Sonic restaurant, a customer drives into one of 24 to 36 covered drive-in spaces, orders through an intercom, and has the food delivered by a carhop within an average of four minutes. “
  • 8/14/2017 – Sonic Corp. had its “buy” rating reaffirmed by analysts at Bank of America Corporation. They now have a $30.00 price target on the stock.

Shares of Sonic Corp. (NASDAQ:SONC) traded down 0.61% during midday trading on Thursday, reaching $24.26. The company had a trading volume of 72,848 shares. The company’s 50 day moving average price is $24.07 and its 200 day moving average price is $25.84. Sonic Corp. has a 52-week low of $21.12 and a 52-week high of $30.05. The stock has a market capitalization of $1.01 billion, a PE ratio of 16.17 and a beta of 1.76.

In related news, Director Steven A. Davis bought 2,000 shares of the stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $23.00 per share, for a total transaction of $46,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 5,000 shares of company stock worth $117,730 in the last 90 days. 6.24% of the stock is currently owned by company insiders.

Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.

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