Sonic (SONC) : Traders are bullish on Sonic (SONC) as it has outperformed the S&P 500 by a wide margin of 5.1% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.2%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.17% in the last 1 week, and is up 5.51% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Sonic Corp. has dropped 1.48% during the last 3-month period . Year-to-Date the stock performance stands at -9.45%. The stock has recorded a 20-day Moving Average of 3.78% and the 50-Day Moving Average is 3.21%.
Sonic (NASDAQ:SONC): The stock opened at $29.12 on Friday but the bulls could not build on the opening and the stock topped out at $29.21 for the day. The stock traded down to $28.73 during the day, due to lack of any buying support eventually closed down at $28.93 with a loss of -1.13% for the day. The stock had closed at $29.26 on the previous day. The total traded volume was 645,260 shares.
Also, Brokerage firm Barclays maintains its rating on Sonic (NASDAQ:SONC). As per the latest information, the brokerage house lowers the price target to $30 per share from a prior target of $33. The shares have been rated Underweight. The rating by the firm was issued on June 24, 2016.
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.