New York: Sonic (NASDAQ:SONC) Stock Has Just Had Its Hold Rating Reiterated by Jefferies. Shares now Have a $31.0 Target

April 17, 2018 - By Dolores Ford

Sonic Corp. (NASDAQ:SONC) Logo

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

Ls Invest Advsr Llc has 1,271 shares. Envestnet Asset Mngmt holds 0% or 273 shares. Partners Ltd Com invested 0.04% of its portfolio in Sonic Corp. (NASDAQ:SONC). Atlanta Mgmt Com L L C invested in 0.12% or 810,109 shares. Assetmark stated it has 30 shares. California Employees Retirement Sys owns 0% invested in Sonic Corp. (NASDAQ:SONC) for 108,482 shares. California State Teachers Retirement holds 0% of its portfolio in Sonic Corp. (NASDAQ:SONC) for 63,425 shares. Putnam Invs Ltd Co reported 55,400 shares stake. Parallax Volatility Advisers Lp stated it has 0% of its portfolio in Sonic Corp. (NASDAQ:SONC). Manufacturers Life The accumulated 29,966 shares. Fenimore Asset Mngmt reported 0.9% of its portfolio in Sonic Corp. (NASDAQ:SONC). Ubs Asset Management Americas Incorporated has invested 0% in Sonic Corp. (NASDAQ:SONC). Citigroup has invested 0.02% of its portfolio in Sonic Corp. (NASDAQ:SONC). Highland Lp invested in 0.03% or 20,350 shares. The Arizona-based Arizona State Retirement Systems has invested 0.02% in Sonic Corp. (NASDAQ:SONC).

Since October 23, 2017, it had 0 insider purchases, and 6 selling transactions for $3.31 million activity. 1,161 shares valued at $29,257 were sold by PENA FEDERICO F on Monday, October 23.

Sonic (NASDAQ:SONC) Rating Reaffirmed

Recently, In an analyst report revealed to investors on Friday morning, Sonic (NASDAQ:SONC) shares have had their Hold Rating reaffirmed by investment analysts at Jefferies, who currently has a $31.0 target price per share on firm. This target by Jefferies would suggest the possibile upside of 16.67 % from the current price.

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

Ls Invest Advsr Llc has 1,271 shares. Envestnet Asset Mngmt holds 0% or 273 shares. Partners Ltd Com invested 0.04% of its portfolio in Sonic Corp. (NASDAQ:SONC). Atlanta Mgmt Com L L C invested in 0.12% or 810,109 shares. Assetmark stated it has 30 shares. California Employees Retirement Sys owns 0% invested in Sonic Corp. (NASDAQ:SONC) for 108,482 shares. California State Teachers Retirement holds 0% of its portfolio in Sonic Corp. (NASDAQ:SONC) for 63,425 shares. Putnam Invs Ltd Co reported 55,400 shares stake. Parallax Volatility Advisers Lp stated it has 0% of its portfolio in Sonic Corp. (NASDAQ:SONC). Manufacturers Life The accumulated 29,966 shares. Fenimore Asset Mngmt reported 0.9% of its portfolio in Sonic Corp. (NASDAQ:SONC). Ubs Asset Management Americas Incorporated has invested 0% in Sonic Corp. (NASDAQ:SONC). Citigroup has invested 0.02% of its portfolio in Sonic Corp. (NASDAQ:SONC). Highland Lp invested in 0.03% or 20,350 shares. The Arizona-based Arizona State Retirement Systems has invested 0.02% in Sonic Corp. (NASDAQ:SONC).

Since October 23, 2017, it had 0 insider purchases, and 6 selling transactions for $3.31 million activity. 1,161 shares valued at $29,257 were sold by PENA FEDERICO F on Monday, October 23.

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. The stock of Sonic Corp. (NASDAQ:SONC) has “Equal-Weight” rating given on Monday, March 26 by Morgan Stanley. The rating was maintained by Jefferies on Friday, December 22 with “Hold”. The firm earned “Buy” rating on Thursday, December 28 by Guggenheim. The firm earned “Market Perform” rating on Monday, March 19 by Wells Fargo. Oppenheimer downgraded the stock to “Hold” rating in Thursday, January 4 report. The company was maintained on Wednesday, March 28 by Barclays Capital. Canaccord Genuity maintained it with “Hold” rating and $27 target in Wednesday, March 28 report. The firm has “Market Perform” rating by Cowen & Co given on Wednesday, March 28. The rating was maintained by Jefferies with “Hold” on Wednesday, March 28. The firm has “Sell” rating given on Tuesday, January 16 by Barclays Capital.

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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