Jefferies Maintains Sonic Corporation to Hold with Price Target $32.00

Brokerage firm Jefferies Maintains its rating on Sonic Corporation(NASDAQ:SONC). In a research note issued to the investors, the brokerage major Lowers the price-target to $32.00 per share. The shares have been rated Hold. The rating by Jefferies was issued on Jun 24, 2016.

In a different note, On Jun 24, 2016, Barclays said it Maintains its rating on Sonic Corporation. In the research note, the firm Lowers the price-target to $33.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jun 24, 2016, Bank of America said it Maintains its rating on Sonic Corporation. In the research note, the firm Lowers the price-target to $36.00 per share. The shares have been rated ‘Buy’ by the firm. On Mar 30, 2016, Deutsche Bank said it Maintains its rating on Sonic Corporation. In the research note, the firm Raises the price-target to $32.00 per share. The shares have been rated ‘Hold’ by the firm. On Mar 30, 2016, UBS said it Maintains its rating on Sonic Corporation. In the research note, the firm Raises the price-target to $28.00 per share. The shares have been rated ‘Neutral’ by the firm. On Mar 30, 2016, Jefferies said it Maintains its rating on Sonic Corporation. In the research note, the firm Raises the price-target to $31.00 per share. The shares have been rated ‘Hold’ by the firm.

Sonic Corporation (SONC) made into the market gainers list on Wednesdays trading session with the shares advancing 0.52% or 0.14 points. Due to strong positive momentum, the stock ended at $26.88, which is also near the day’s high of $27.33. The stock began the session at $26.98 and the volume stood at 9,49,074 shares. The 52-week high of the shares is $36.34 and the 52 week low is $22.72. The company has a current market capitalization of $1,305 M and it has 4,85,52,214 shares in outstanding.

Sonic Corporation(SONC) last announced its earnings results on Jun 23, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $165.24M. Analysts had an estimated revenue of $166.19M. Earnings per share were $0.43. Analysts had estimated an EPS of $0.42.

Several Insider Transactions has been reported to the SEC. On Jun 1, 2016, Craig Jeffrey Miller (Former Officer of Subsidiary) sold 25,394 shares at $30.00 per share price.Also, On May 27, 2016, Kathy L Taylor (director) purchased 10,000 shares at $29.85 per share price.On Apr 26, 2016, Frank E Iii Richardson (director) sold 45,005 shares at $34.91 per share price, according to the Form-4 filing with the securities and exchange commission.

Sonic Corp. operates and franchises a chain of drive-in restaurants in the United States. The Company has around 3512 Sonic Drive-Ins in 44 states of the United States. The Company’s product categories include Burgers Coneys and Hot Dogs Chicken Breakfast Snacks and Sides Drinks Ice Cream and Wacky Pack. The Company’s 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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