A statement released earlier today by Canaccord Genuity about Sonic Corporation (NDAQ:SONC) lowers the target price to $24.00
- Updated: March 20, 2017
Having a price of $23.24, Sonic Corporation (NDAQ:SONC) traded 0.34% higher on the day. With the last close down -8.41% from the two hundred day average, compared with the Standard & Poor's 500 Index which has increased 0.04% over the same period. SONC has recorded a 50-day average of $25.18 and a two hundred day average of $25.96. Trade Volume was up over the average, with 880,043 shares of SONC changing hands over the typical 830,528
In a report released on 3/20/2017 Canaccord Genuity reduced the stock price target of Sonic Corporation (NDAQ:SONC) from $30.00 to $24.00 reporting a potential upside of 0.03%.
Recent Performance Chart
Sonic Corporation has PE ratio of 17.79 with a one year low of $21.12 and a one year high of $36.34 and has a market capitalization of $0.
A total of 13 equity analysts have released a research note on SONC. Five analysts rating the company a strong buy, 4 firms rating the stock a buy, 5 brokers rating the stock a hold, 1 broker rating the stock a underperform, and finally 0 brokers rating the stock a sell with a consensus target price of $36.92.
General Information About Sonic Corporation (NDAQ: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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