Sonic Receives a Hold from Canaccord Genuity

Canaccord Genuity analyst Lynne Collier maintained a Hold rating on Sonic (NASDAQ: SONC) today and set a price target of $33. The company’s shares opened today at $34.02, close to its 52-week high of $36.15.

According to TipRanks.com, Collier is a 5-star analyst with an average return of 17.3% and a 73.3% success rate. Collier covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Brinker International, and The Chefs’ Warehouse.

Sonic has an analyst consensus of Hold, with a price target consensus of $30.83, implying a -9.4% downside from current levels. In a report released today, Oppenheimer also maintained a Hold rating on the stock.

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Sonic’s market cap is currently $1.34B and has a P/E ratio of 20.48. The company has a Price to Book ratio of -5.31.

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Sonic Corp., through its subsidiaries, engages in the operation and franchising of a chain of drive-in restaurants. It also owns and leases properties to franchisees and other parties. Its product includes specialty drinks, ice cream desserts, made-to-order cheeseburgers, chicken entrees, hand-made onion rings, and tater tots.