Sonic Corp. SONC was a big mover last session, as the company saw its shares rise more than 6% on the day. Shares moved up after the company reported better-than-expected second quarter fiscal 2016 results. This led to solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $29.52 to $32.62 in the past one-month time frame.
This restaurant industry stock witnessed one positive estimate revision over the past 30 days. However, the Zacks Consensus Estimate remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Sonic has a Zacks Rank #2 (Buy).
Investors interested in the space may also consider Carrols Restaurant Group, Inc. TAST, sporting a Zacks Rank #1 (Strong Buy).
Is SONC going up? Or down? Predict to see what others think: Up or Down
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