Analyst Downgrades – Sonic (NASDAQ:SONC) Stock Gets Downgraded By Canaccord Genuity from Buy to Hold

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Analyst Ratings For Sonic (NASDAQ:SONC)

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Today, Sonic (NASDAQ:SONC) stock was downgraded by Canaccord Genuity from Buy to Hold.

There are 1 sell rating, 6 hold ratings, 5 buy ratings on the stock.

The current consensus rating on Sonic (NASDAQ:SONC) is Hold (Score: 2.33) with a consensus target price of $30.45 per share, a potential 28.07% upside.

Some recent analyst ratings include

  • 3/20/2017-Canaccord Genuity was Downgraded by analysts at Canaccord Genuity from a “Buy ” rating to a ” Hold” rating.
  • 1/7/2017-Jefferies Group LLC Reiterated Rating of Hold.
  • 1/1/2017-Deutsche Bank AG Reiterated Rating of Hold.
  • 12/13/2016-Cowen and Company Reiterated Rating of Market Perform.
  • 12/2/2016-Longbow Research was Downgraded by analysts at Longbow Research from a “Buy ” rating to a ” Neutral” rating.
  • 10/25/2016-Stephens was Downgraded by analysts at Stephens from a “Overweight ” rating to a ” Equal Weight” rating. They now have a $26.00 price target on the stock, up previously from $32.00 .
  • 10/25/2016-Telsey Advisory Group was Downgraded by analysts at Telsey Advisory Group from a “Outperform ” rating to a ” Market Perform” rating. They now have a $27.00 price target on the stock, up previously from $36.00 .

Dividend information for Sonic (NASDAQ:SONC)

Sonic (NASDAQ:SONC) pays an annual dividend of $0.56 with a yield of 2.35%.

Dividend History for Sonic (NASDAQ:SONC)

  • On 1/19/2017 Sonic announced a quarterly dividend of $0.14 2.2% with an ex dividend date of 2/6/2017 which will be payable on 2/17/2017.
  • On 10/21/2016 Sonic announced a quarterly dividend of $0.14 2.15% with an ex dividend date of 11/7/2016 which will be payable on 11/18/2016.
  • On 7/7/2016 Sonic announced a quarterly dividend of $0.11 1.56% with an ex dividend date of 8/8/2016 which will be payable on 8/19/2016.
  • On 4/7/2016 Sonic announced a quarterly dividend of $0.11 1.23% with an ex dividend date of 5/9/2016 which will be payable on 5/20/2016.
  • On 1/28/2016 Sonic announced a quarterly dividend of $0.11 1.5% with an ex dividend date of 2/8/2016 which will be payable on 2/19/2016.
  • On 10/15/2015 Sonic announced a quarterly dividend of $0.11 1.69% with an ex dividend date of 11/6/2015 which will be payable on 11/20/2015.
  • On 7/9/2015 Sonic announced a quarterly dividend of $0.09 1.25% with an ex dividend date of 8/10/2015 which will be payable on 8/21/2015.

Recent Insider Trading Activity For Sonic (NASDAQ:SONC)
Sonic (NASDAQ:SONC) has insider ownership of 6.24% and institutional ownership of 96.33%.

  • On 1/11/2017 Harold A. Ceron, VP, sold 3,112 with an average share price of $27.02 per share and the total transaction amounting to $84,086.24. View SEC Filing
  • On 1/10/2017 Frank E Richardson III, Director, sold 4,685 with an average share price of $27.57 per share and the total transaction amounting to $129,165.45. View SEC Filing
  • On 5/27/2016 Craig Jeffrey Miller, Insider, sold 25,394 with an average share price of $30.00 per share and the total transaction amounting to $761,820.00. View SEC Filing
  • On 5/25/2016 Kathy L Taylor, Director, bought 10,000 with an average share price of $29.85 per share and the total transaction amounting to $298,500.00. View SEC Filing
  • On 4/28/2016 Craig Jeffrey Miller, Insider, sold 25,700 with an average share price of $35.53 per share and the total transaction amounting to $913,121.00. View SEC Filing
  • On 4/25/2016 Frank E Richardson III, Director, sold 45,005 with an average share price of $34.96 per share and the total transaction amounting to $1,573,374.80. View SEC Filing
  • On 4/20/2016 Frank E Richardson III, Director, sold 3,895 with an average share price of $35.00 per share and the total transaction amounting to $136,325.00. View SEC Filing

About Sonic (NASDAQ:SONC)
Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board. At a Sonic Drive-In, a customer drives into one of the parking spaces, orders through the intercom speaker system and has the food delivered by a carhop and Sonic Drive-Ins also include a drive-thru lane and patio seating to provide customers with alternative dining options. Its food items include specialty drinks, such as cherry limeades and slushes, ice cream desserts and chicken sandwiches and hamburgers.

Recent Trading Activity for Sonic (NASDAQ:SONC)
Shares of Sonic closed the previous trading session at 23.78 up +0.08 0.34% with 880,043 shares trading hands.

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