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BidaskClub downgraded Sonic Corporation (NASDAQ:SONC) to Buy in a report released today.

BidaskClub has downgraded Sonic Corporation (NASDAQ:SONC) to Buy in a report released on 6/17/2017.

Previously on 6/13/2017, Bank of America Corp released a statement about Sonic Corporation (NASDAQ:SONC) increased the target price from $27.00 to $30.00. At the time, this indicated a possible upside of 0.02%.

Just yesterday Sonic Corporation (NASDAQ:SONC) traded 0.12% higher at $28.38. Sonic Corporation’s 50-day moving average is $23.68 and its 200-day moving average is $25.71. The last stock price is up -4.17% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has increased 0.04% over the same time period. 594,192 shares of SONC traded hands, down from an average trading volume of 844,748

Recent Performance Chart

Sonic Corporation (NASDAQ:SONC)

Sonic Corporation has 52 week low of $21.12 and a 52 week high of $30.05 with a PE ratio of 16.43 and has a market capitalization of $0.

In addition to BidaskClub reporting its stock price target, a total of 13 brokerages have issued a ratings update on the company. The average stock price target is $36.92 with 5 brokerages rating the stock a strong buy, 4 brokerages rating the stock a buy, 5 brokerages rating the stock a hold, 1 brokerage rating the stock a underperform, and finally 0 brokerages rating the stock a sell.

Brief Synopsis On 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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