A report released today by Zacks Investment Research about Sonic Corporation (NASDAQ:SONC) ups the target price to $31.00
- Updated: January 11, 2017
Having a price of $26.90, Sonic Corporation (NASDAQ:SONC) traded 0.30% higher on the day. With the last close up 0.72% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.04% over the same period. Sonic Corporation has recorded a 50-day average of $27.15 and a two hundred day average of $26.87. Volume of trade was down over the average, with 250,672 shares of SONC changing hands under the typical 1,057,070
Reporting a possible upside of 0.15%, Zacks Investment Research upped the price target of Sonic Corporation (NASDAQ:SONC) to $31.00
With a total market value of $0, Sonic Corporation has price-earnings ratio of 20.24 with a one year low of $21.12 and a one year high of $36.34 .
A total of 13 analysts have released a research note on Sonic Corporation. Five analysts rating the company a strong buy, four analysts rating the company a buy, five analysts rating the company a hold, one analyst rating the company a underperform, and finally zero analysts rating the company a sell with a 12-month price target of $36.92.
More About Sonic Corporation (NASDAQ:SONC)
Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board. At a Sonic Drive-In, a customer drives into one of the parking spaces, orders through the intercom speaker system and has the food delivered by a carhop and Sonic Drive-Ins also include a drive-thru lane and patio seating to provide customers with alternative dining options. Its food items include specialty drinks, such as cherry limeades and slushes, ice cream desserts and chicken sandwiches and hamburgers.
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