Sonic (NASDAQ:SONC): Jefferies Reaffirms “Hold” Rating Today, Has a Target of $31.0/Share

April 17, 2018 - By Ann Prendergast

Sonic Corp. (NASDAQ:SONC) Logo

Investors sentiment decreased to 0.88 in 2017 Q4. Its down 0.27, from 1.15 in 2017Q3. It turned negative, 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.

Teacher Retirement Sys Of Texas holds 0% or 14,455 shares in its portfolio. Castleark Management Limited Liability invested in 0.04% or 44,885 shares. 21,751 were reported by Dupont Mgmt Corp. Sei Investments invested in 173,232 shares. Quantitative Systematic Strategies has invested 0.12% in Sonic Corp. (NASDAQ:SONC). Pnc Financial Svcs Group Inc stated it has 1,043 shares. Cipher Cap L P has 176,133 shares. Bancshares Of New York Mellon Corporation owns 0% invested in Sonic Corp. (NASDAQ:SONC) for 632,292 shares. Engineers Gate Manager Limited Partnership has invested 0.18% of its portfolio in Sonic Corp. (NASDAQ:SONC). Commercial Bank Of Montreal Can, Ontario – Canada-based fund reported 15,061 shares. Millennium Management Limited Liability holds 631,237 shares or 0.02% of its portfolio. Quebec – Canada-based Public Sector Pension Inv Board has invested 0% in Sonic Corp. (NASDAQ:SONC). Colorado-based Public Employees Retirement Association Of Colorado has invested 0% in Sonic Corp. (NASDAQ:SONC). Qs Invsts Ltd invested in 0.03% or 113,152 shares. Comerica Bancorporation owns 0.01% invested in Sonic Corp. (NASDAQ:SONC) for 34,573 shares.

Since October 23, 2017, it had 0 insider buys, and 6 sales for $3.31 million activity. The insider RICHARDSON FRANK E III sold $103,544.

Sonic (NASDAQ:SONC) Rating Reaffirmed

The financial company has just set a PT of $31.0 on Sonic (NASDAQ:SONC) shares. This is 16.67 % from the previous stock close. In analysts note revealed to investors on Friday morning, Jefferies maintained their “Hold” rating on shares of SONC.

Investors sentiment decreased to 0.88 in 2017 Q4. Its down 0.27, from 1.15 in 2017Q3. It turned negative, 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.

Teacher Retirement Sys Of Texas holds 0% or 14,455 shares in its portfolio. Castleark Management Limited Liability invested in 0.04% or 44,885 shares. 21,751 were reported by Dupont Mgmt Corp. Sei Investments invested in 173,232 shares. Quantitative Systematic Strategies has invested 0.12% in Sonic Corp. (NASDAQ:SONC). Pnc Financial Svcs Group Inc stated it has 1,043 shares. Cipher Cap L P has 176,133 shares. Bancshares Of New York Mellon Corporation owns 0% invested in Sonic Corp. (NASDAQ:SONC) for 632,292 shares. Engineers Gate Manager Limited Partnership has invested 0.18% of its portfolio in Sonic Corp. (NASDAQ:SONC). Commercial Bank Of Montreal Can, Ontario – Canada-based fund reported 15,061 shares. Millennium Management Limited Liability holds 631,237 shares or 0.02% of its portfolio. Quebec – Canada-based Public Sector Pension Inv Board has invested 0% in Sonic Corp. (NASDAQ:SONC). Colorado-based Public Employees Retirement Association Of Colorado has invested 0% in Sonic Corp. (NASDAQ:SONC). Qs Invsts Ltd invested in 0.03% or 113,152 shares. Comerica Bancorporation owns 0.01% invested in Sonic Corp. (NASDAQ:SONC) for 34,573 shares.

Since October 23, 2017, it had 0 insider buys, and 6 sales for $3.31 million activity. The insider RICHARDSON FRANK E III sold $103,544.

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 4.29% above currents $26.57 stock price. Sonic had 11 analyst reports since December 22, 2017 according to SRatingsIntel. Oppenheimer downgraded Sonic Corp. (NASDAQ:SONC) on Thursday, January 4 to “Hold” rating. The company was maintained on Tuesday, January 16 by Barclays Capital. The stock of Sonic Corp. (NASDAQ:SONC) has “Underweight” rating given on Wednesday, March 28 by Barclays Capital. The stock of Sonic Corp. (NASDAQ:SONC) has “Hold” rating given on Friday, December 22 by Jefferies. The rating was maintained by Wells Fargo on Monday, March 19 with “Market Perform”. The stock of Sonic Corp. (NASDAQ:SONC) has “Hold” rating given on Wednesday, March 28 by Jefferies. On Wednesday, March 28 the stock rating was maintained by Canaccord Genuity with “Hold”. The stock of Sonic Corp. (NASDAQ:SONC) earned “Equal-Weight” rating by Morgan Stanley on Monday, March 26. The stock of Sonic Corp. (NASDAQ:SONC) has “Buy” rating given on Thursday, December 28 by Guggenheim. Cowen & Co maintained Sonic Corp. (NASDAQ:SONC) on Wednesday, March 28 with “Market Perform” rating.

The stock increased 0.99% or $0.26 during the last trading session, reaching $26.57. About 477,051 shares traded. Sonic Corp. (NASDAQ:SONC) has risen 8.52% since April 17, 2017 and is uptrending. It has underperformed by 3.03% the S&P500.

Sonic Corp. operates and franchises a chain of quick-service drive-in restaurants in the United States. The company has market cap of $987.21 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 15.37 P/E ratio. It also leases real estate properties to franchisees.

Sonic Corp. (NASDAQ:SONC) Institutional Positions Chart

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