Sonic Corporation(NASDAQ:SONC) announced the earnings results for Fiscal Year 2017 and Q2. The results came in during After-Market on Mar 28, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Earnings per share were $0.15.
In a different note, On Mar 20, 2017, Canaccord Genuity said it Downgrades its rating on Sonic Corporation. According to the research note, Canaccord Genuity Lowers the price target to $24 per share from a prior target of $30. The shares have been rated ‘Hold’ by the firm.
Sonic Corporation (SONC) shares turned negative on Fridays trading session with the shares closing down -0.1 points or -0.43% at a volume of 16,51,279. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $23.36. The peak price level was also seen at $23.36 while the days lowest was $22.92. Finally the shares closed at $23. The 52-week high of the shares is $36.34 while the 52-week low is $21.12. According to the latest information available, the market cap of the company is $1,010 M.
Several Insider Transactions has been reported to the SEC. On Jan 12, 2017, Frank E Iii Richardson (director) sold 4,685 shares at $27.57 per share price.Also, On Jan 12, 2017, Harold A Ceron (Senior VP of subsidiary) sold 3,112 shares at $27.02 per share price.On Jun 1, 2016, Craig Jeffrey Miller (Former Officer of Subsidiary) sold 25,394 shares at $30.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Sonic Corp. operates and franchises a chain of drive-in restaurants in the United States. The Company has around 3512 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. The Company’s products include SONIC Cheeseburger SuperSONIC Double Cheeseburger Chili Cheese Coney Chicago Dog Garlic Parmesan Boneless Wings Buffalo Boneless Wings BREAKFAST TOASTER SuperSONIC Breakfast Burrito Natural-Cut Fries Onion Rings Minute Maid Cranberry Juice Slush DR PEPPER SONIC Energy Zero Calorie OREO & Cake Shake Banana Split Master Blast and Waffle Cone Sundae with Chocolate & Reeses Cups among others. The Company offers Wacky Pack for kids. The Company also offers SONIC Wacky application which is available on Google Play and iTunes App Store.