Sonic Corp. (NASDAQ:SONC) Director Douglas Benham unloaded 2,500 shares of the stock on the open market in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $19.40, for a total transaction of $48,500.00. Following the transaction, the director now directly owns 3,537 shares of the company’s stock, valued at approximately $68,618. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Sonic Corp. (NASDAQ:SONC) opened at 19.88 on Friday. Sonic Corp. has a 52-week low of $9.62 and a 52-week high of $19.97. The stock has a 50-day moving average of $18.75 and a 200-day moving average of $16.26. The company has a market cap of $1.118 billion and a price-to-earnings ratio of 31.06.
Sonic Corp. (NASDAQ:SONC) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $158.80 million for the quarter, compared to the consensus estimate of $155.78 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Sonic Corp. will post $0.83 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on SONC shares. Analysts at Wunderlich raised their price target on shares of Sonic Corp. from $19.00 to $22.00 in a research note to investors on Wednesday, October 23rd. They now have a “buy” rating on the stock. Separately, analysts at Piper Jaffray Cos. raised their price target on shares of Sonic Corp. from $16.00 to $19.00 in a research note to investors on Tuesday, October 22nd. They now have a “neutral” rating on the stock. Finally, analysts at Stephens downgraded shares of Sonic Corp. to an “equal weight” rating in a research note to investors on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Sonic Corp. presently has an average rating of “Hold” and an average target price of $17.38.
Sonic Corp. (NASDAQ:SONC) operates and franchises chain of drive-in restaurants (Sonic Drive-Ins) in the United States.
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