Shares of Sonic Corp. (NASDAQ:SONC) were down 1.1% on Friday . The company traded as low as $27.81 and last traded at $27.88, with a volume of 476,952 shares. The stock had previously closed at $28.19.

A number of analysts have weighed in on SONC shares. Sterne Agee CRT restated a “buy” rating on shares of Sonic Corp. in a report on Monday, May 16th. Telsey Advisory Group upped their target price on Sonic Corp. from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, June 1st. Deutsche Bank AG restated a “hold” rating and set a $33.00 target price (down previously from $35.00) on shares of Sonic Corp. in a report on Tuesday, June 7th. Oppenheimer Holdings Inc. restated a “buy” rating and set a $40.00 target price on shares of Sonic Corp. in a report on Friday, June 17th. Finally, Jefferies Group lowered their target price on Sonic Corp. from $34.00 to $32.00 and set a “hold” rating for the company in a report on Friday, June 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.44.

The firm has a 50 day moving average of $28.05 and a 200 day moving average of $30.39. The company has a market cap of $1.33 billion and a P/E ratio of 21.75.

Sonic Corp. (NASDAQ:SONC) last posted its quarterly earnings results on Thursday, June 23rd. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business earned $165.24 million during the quarter. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. On average, analysts anticipate that Sonic Corp. will post $1.33 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Wednesday, August 10th were paid a $0.11 dividend. The ex-dividend date was Monday, August 8th. This represents a $0.44 annualized dividend and a dividend yield of 1.57%.

A hedge fund recently bought a new stake in Sonic Corp. stock. State of Tennessee Treasury Department purchased a new stake in Sonic Corp. (NASDAQ:SONC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 159,700 shares of the company’s stock, valued at approximately $5,160,000. State of Tennessee Treasury Department owned 0.33% of Sonic Corp. as of its most recent filing with the SEC.

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.

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