Sonic (SONC) stock is expected to deviate a maximum of $3.73 from the average target price of $34.9 for the short term period. 10 Street Experts have initiated coverage on the stock with the most promising target being $42 and the most muted being $30.
Sonic (SONC) has an average broker rating of 2.09, which is interpreted as a Buy, as rated by 11 equity analysts. Nonetheless, 6 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 4 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 1 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.
Also, Canaccord Genuity initiates coverage on Sonic (NASDAQ:SONC) The current rating of the shares is Buy. The rating by the firm was issued on August 22, 2016.
Sonic (NASDAQ:SONC): The stock opened at $28.79 on Thursday but the bulls could not build on the opening and the stock topped out at $28.87 for the day. The stock traded down to $28.00 during the day, due to lack of any buying support eventually closed down at $28.19 with a loss of -1.74% for the day. The stock had closed at $28.69 on the previous day. The total traded volume was 1,126,386 shares.
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.