Analyst Rating Update on Sonic (SONC)

Sonic (NASDAQ:SONC) : 7 brokerage houses believe that Sonic (NASDAQ:SONC) is a Strong Buy at current levels. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Sonic (NASDAQ:SONC). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 12 Wall Street Analysts endorse the stock as a Buy with a rating of 2.

Sonic (NASDAQ:SONC) stock is expected to deviate a maximum of $3.85 from the average target price of $35.36 for the short term period. 11 Street Experts have initiated coverage on the stock with the most promising target being $42 and the most muted being $30.

For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Barclays maintains the rating on Sonic (NASDAQ:SONC). The brokerage firm has issued a Underweight rating on the shares. The Analysts at the ratings agency lowers the price target from $33 per share to $30 per share. The rating by the firm was issued on June 24, 2016.

Sonic (NASDAQ:SONC): On Tuesdays trading session , Opening price of the stock was $27.66 with an intraday high of $27.99. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $26.42. However, the stock managed to close at $26.74, a loss of 1.76% for the day. On the previous day, the stock had closed at $27.22. The total traded volume of the day was 1,498,622 shares.

In an insider trading activity, Miller Craig Jeffrey, officer (Former Officer of Subsidiary) of Sonic Corp, unloaded 25,394 shares at an average price of $30 on May 27, 2016. The total amount of the transaction was worth $761,820, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Sonic Corp. operates and franchises a chain of drive-in restaurants in the United States. The Company has around 3,512 Sonic Drive-Ins in 44 states of the United States. The Companys product categories include Burgers, Coneys and Hot Dogs, Chicken, Breakfast, Snacks and Sides, Drinks, Ice Cream, and Wacky Pack. The Companys products include SONIC Cheeseburger, SuperSONIC Double Cheeseburger, Chili Cheese Coney, Chicago Dog, Garlic Parmesan Boneless Wings, Buffalo Boneless Wings, BREAKFAST TOASTER, SuperSONIC Breakfast Burrito, Natural-Cut Fries, Onion Rings, Minute Maid Cranberry Juice Slush, DR PEPPER, SONIC Energy Zero Calorie, OREO & Cake Shake, Banana Split Master Blast, and Waffle Cone Sundae with Chocolate & Reeses Cups, among others. The Company offers Wacky Pack for kids. The Company also offers SONIC Wacky application, which is available on Google Play and iTunes App Store.

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