Sonic Corp. (NASDAQ:SONC) has earned a consensus recommendation of “Buy” from the thirteen analysts that are currently covering the firm. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $33.21.

Several research analysts have weighed in on SONC shares. Canaccord Genuity started coverage on Sonic Corp. in a research report on Monday, August 22nd. They set a “buy” rating and a $35.00 price target on the stock. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Sonic Corp. in a report on Sunday, June 26th. Bank of America Corp. decreased their target price on Sonic Corp. from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, June 24th. Jefferies Group decreased their target price on Sonic Corp. from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Friday, June 24th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $33.00 target price on shares of Sonic Corp. in a report on Monday, June 27th.

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Sonic Corp. by 84.0% in the second quarter. Royal Bank of Canada now owns 1,145,861 shares of the company’s stock worth $30,996,000 after buying an additional 523,188 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Sonic Corp. during the second quarter valued at $11,786,000. Goldman Sachs Group Inc. increased its stake in shares of Sonic Corp. by 132.5% in the first quarter. Goldman Sachs Group Inc. now owns 651,547 shares of the company’s stock valued at $22,908,000 after buying an additional 371,334 shares in the last quarter. Norges Bank acquired a new stake in shares of Sonic Corp. during the fourth quarter valued at $11,462,000. Finally, Capital Fund Management S.A. increased its stake in shares of Sonic Corp. by 234.8% in the second quarter. Capital Fund Management S.A. now owns 402,291 shares of the company’s stock valued at $10,882,000 after buying an additional 282,116 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Shares of Sonic Corp. (NASDAQ:SONC) opened at 26.22 on Tuesday. Sonic Corp. has a 52-week low of $24.58 and a 52-week high of $36.34. The stock has a 50 day moving average price of $27.10 and a 200 day moving average price of $29.81. The company has a market capitalization of $1.25 billion, a PE ratio of 20.40 and a beta of 1.20.

Sonic Corp. Company Profile

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 Company’s product categories include Burgers, Coneys and Hot Dogs, Chicken, Breakfast, Snacks and Sides, Drinks, Ice Cream, and Wacky Pack.

5 Day Chart for NASDAQ:SONC

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