Analyst Price Target Update on Sonic (NASDAQ:SONC)

Sonic (NASDAQ:SONC): According to 11 Analysts, The short term target price has been estimated at $ 36.09.The target price could deviate by a maximum of $3.24 from the forecast price. In the near term, the target price could hit a high of $42 and a low of $ 33.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Deutsche Bank, maintains their rating on the shares of Sonic (NASDAQ:SONC). Deutsche Bank has a Hold rating on the shares. As per the latest research report, the brokerage house raises the price target to $35 per share from a prior target of $32. The rating by the firm was issued on March 30, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities,The officer (Former Officer of Subsidiary) of Sonic Corp, Miller Craig Jeffrey sold 25,394 shares at $30 on May 27, 2016. The Insider selling transaction had a total value worth of $761,820. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Sonic (NASDAQ:SONC) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.91 points or 3.13% at $28.16 with 1,591,251 shares getting traded. Post opening the session at $28.89, the shares hit an intraday low of $28.11 and an intraday high of $29.28 and the price was in this range throughout the day. The company has a market cap of $1,367 million and the number of outstanding shares have been calculated to be 48,552,214 shares. The 52-week high of Sonic (NASDAQ:SONC) is $36.34 and the 52-week low is $22.72.

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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