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Sonic Corp. (SONC) operates and franchises a chain of drive-in restaurants in the United States. As of May 31, 2015, the Company had 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.
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.
Shares have formed a bullish "flag" following the company's latest quarterly report, and higher share prices are expected for this stock. The company’s earnings growth was influenced by year-on-year improvement in gross margins from 27.77% to 30.36% as well as better cost controls. As a result, operating margins (EBITDA margins) rose from 22.54% to 23.06% compared to the same period last year. For comparison, gross margins were 31.95% and EBITDA margins were 25.13% in the last reporting period. The next earnings report comes on June 20th.
52-Weeks Trading Range: $22.72 - $36.34
Entry Point: $34.40
Stop Loss: $32.50
Target Price: $37.85
SONC closed at $29.82.
