Sonic (NASDAQ:SONC): Guggenheim Reconfirms Buy Rating Today, Has a Target of $31.0/Share

April 20, 2018 - By Kenneth Lin

Sonic Corp. (NASDAQ:SONC) Logo

Investors sentiment decreased to 0.88 in Q4 2017. Its down 0.27, from 1.15 in 2017Q3. It fall, as 16 investors sold Sonic Corp. shares while 67 reduced holdings. 37 funds opened positions while 36 raised stakes. 43.78 million shares or 5.97% less from 46.56 million shares in 2017Q3 were reported.

Price T Rowe Assocs Md holds 0.02% or 4.90M shares. Bluecrest Capital Management Limited reported 8,871 shares or 0.01% of all its holdings. 861,167 were reported by Fenimore Asset. Bancshares Of Montreal Can holds 0% or 15,061 shares. Assetmark Inc stated it has 0% in Sonic Corp. (NASDAQ:SONC). Teachers Retirement System Of The State Of Kentucky stated it has 0% of its portfolio in Sonic Corp. (NASDAQ:SONC). American Grp has invested 0% in Sonic Corp. (NASDAQ:SONC). California Public Employees Retirement stated it has 0% in Sonic Corp. (NASDAQ:SONC). Tower Research Capital (Trc) holds 0% or 458 shares in its portfolio. Citadel Advisors Limited Liability Corporation holds 144,718 shares. Product Prns, New York-based fund reported 45,883 shares. 68,425 were accumulated by Weiss Multi. Renaissance Technology Ltd Liability Co owns 198,474 shares. Macquarie reported 1.46 million shares. Atlantic Gp Limited Liability Company stated it has 0% in Sonic Corp. (NASDAQ:SONC).

Since October 23, 2017, it had 0 insider buys, and 6 selling transactions for $3.31 million activity. The insider RICHARDSON FRANK E III sold 50,000 shares worth $1.42M.

Sonic (NASDAQ:SONC) Rating Reaffirmed

Sonic (NASDAQ:SONC) just had their share rating of a ‘Buy’ issued by research analysts at Guggenheim, who now has a $31.0 target on the $992.04M market cap company or a 16.10 % upside potential. This key information was revealed in a research report on Thursday morning.

Investors sentiment decreased to 0.88 in Q4 2017. Its down 0.27, from 1.15 in 2017Q3. It fall, as 16 investors sold Sonic Corp. shares while 67 reduced holdings. 37 funds opened positions while 36 raised stakes. 43.78 million shares or 5.97% less from 46.56 million shares in 2017Q3 were reported.

Price T Rowe Assocs Md holds 0.02% or 4.90M shares. Bluecrest Capital Management Limited reported 8,871 shares or 0.01% of all its holdings. 861,167 were reported by Fenimore Asset. Bancshares Of Montreal Can holds 0% or 15,061 shares. Assetmark Inc stated it has 0% in Sonic Corp. (NASDAQ:SONC). Teachers Retirement System Of The State Of Kentucky stated it has 0% of its portfolio in Sonic Corp. (NASDAQ:SONC). American Grp has invested 0% in Sonic Corp. (NASDAQ:SONC). California Public Employees Retirement stated it has 0% in Sonic Corp. (NASDAQ:SONC). Tower Research Capital (Trc) holds 0% or 458 shares in its portfolio. Citadel Advisors Limited Liability Corporation holds 144,718 shares. Product Prns, New York-based fund reported 45,883 shares. 68,425 were accumulated by Weiss Multi. Renaissance Technology Ltd Liability Co owns 198,474 shares. Macquarie reported 1.46 million shares. Atlantic Gp Limited Liability Company stated it has 0% in Sonic Corp. (NASDAQ:SONC).

Since October 23, 2017, it had 0 insider buys, and 6 selling transactions for $3.31 million activity. The insider RICHARDSON FRANK E III sold 50,000 shares worth $1.42M.

Sonic Corp. (NASDAQ:SONC) Ratings Coverage

Among 8 analysts covering Sonic (NASDAQ:SONC), 1 have Buy rating, 1 Sell and 6 Hold. Therefore 13% are positive. Sonic has $31.0 highest and $25 lowest target. $27.71’s average target is 3.78% above currents $26.7 stock price. Sonic had 11 analyst reports since December 22, 2017 according to SRatingsIntel. Jefferies maintained Sonic Corp. (NASDAQ:SONC) on Wednesday, March 28 with “Hold” rating. The stock of Sonic Corp. (NASDAQ:SONC) has “Hold” rating given on Thursday, January 4 by Oppenheimer. The company was maintained on Wednesday, March 28 by Barclays Capital. The stock has “Market Perform” rating by Wells Fargo on Monday, March 19. The rating was maintained by Canaccord Genuity with “Hold” on Wednesday, March 28. The stock of Sonic Corp. (NASDAQ:SONC) has “Buy” rating given on Thursday, December 28 by Guggenheim. The stock of Sonic Corp. (NASDAQ:SONC) earned “Equal-Weight” rating by Morgan Stanley on Monday, March 26. On Friday, December 22 the stock rating was maintained by Jefferies with “Hold”. Barclays Capital maintained it with “Sell” rating and $28.0 target in Tuesday, January 16 report. Cowen & Co maintained the stock with “Market Perform” rating in Wednesday, March 28 report.

The stock decreased 0.52% or $0.14 during the last trading session, reaching $26.7. About 462,670 shares traded. Sonic Corp. (NASDAQ:SONC) has risen 8.52% since April 20, 2017 and is uptrending. It has underperformed by 3.03% the S&P500.

Analysts await Sonic Corp. (NASDAQ:SONC) to report earnings on June, 28. They expect $0.49 EPS, up 13.95 % or $0.06 from last year’s $0.43 per share. SONC’s profit will be $18.21 million for 13.62 P/E if the $0.49 EPS becomes a reality. After $0.17 actual EPS reported by Sonic Corp. for the previous quarter, Wall Street now forecasts 188.24 % EPS growth.

Sonic Corp. operates and franchises a chain of quick-service drive-in restaurants in the United States. The company has market cap of $992.04 million. As of August 31, 2016, the firm operated 3,557 Sonic Drive-Ins in 45 states, of which 345 were owned and operated by the firm and 3,212 were owned and operated by franchisees. It has a 15.44 P/E ratio. It also leases real estate properties to franchisees.

Sonic Corp. (NASDAQ:SONC) Institutional Positions Chart

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