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SONC

Sonic

$23.58

-0.08 (-0.34%)

16:10
08/09/17
08/09
16:10
08/09/17
16:10

Sonic appoints Jose Duenas as Chief Brand Officer

Sonic announced the appointment of Jose A. Duenas as executive vice president and Chief Brand Officer. Duenas will be responsible for the end-to-end customer experience including marketing and culinary innovation, digital strategy, consumer insights, guest relations, concept development and overall evolution of the SONIC brand for the long term. He joins the brand with more than two decades of marketing and brand senior leadership in the restaurant and consumer packaged goods industries, most recently leading same-store sales growth and profitability for Olive Garden where he served as executive vice president and chief marketing officer. In his five years with Olive Garden, Duenas served as marketing lead with responsibility for brand strategy, food innovation, guest experience design, advertising and communications, digital and social media, market research and guest relations. Under his leadership the brand achieved 11 consecutive quarters of same-store sales growth, outperforming the industry. Duenas joined Olive Garden after 15 years of progressively responsible positions at the Kellogg Company in the United States and Mexico

SONC Sonic
$23.58

-0.08 (-0.34%)

06/13/17
06/13/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Foot Locker (FL) downgraded to Hold from Buy at Argus with analyst John Staszak citing weakening demand for Nike (NKE) footwear. 2. Sonic (SONC) downgraded to Underperform from Buy at BofA/Merrill with analyst Gregory Francfort downgrading Sonic two notches to Underperform from Buy and raising its price target to $30 from $27 while saying the downgrade is not a call on the quarter and sees limited downside to the third quarter and fourth quarter. 3. Shopify (SHOP) downgraded to Neutral from Buy at Goldman Sachs with analyst Jesse Hulsing saying the risk/reward is balanced with the shares up 105% since his upgrade on October 4, 2016. The analyst keeps a $96 price target for the stock. 4. Consolidated Edison (ED) downgraded to Hold from Buy at Jefferies with analyst Anthony Crowdell saying he views the shares as fairly valued following the recent rally and lowered his estimates to reflect a higher share count. 5. Zoetis (ZTS) downgraded on valuation at BMO Capital with analyst Alex Arfaei citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/13/17
BOFA
06/13/17
DOWNGRADE
Target $30
BOFA
Underperform
Sonic downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Gregory Francfort downgraded Sonic (SONC) two notches to Underperform from Buy but raised its price target to $30 from $27. The analyst said the downgrade is not a call on the quarter and sees limited downside to Q3 and Q4 but notes shares are up 29% since March 21. Francfort said he is concerned about 2018 earnings as McDonald's (MCD) becoming more aggressive and believes shares should trade at a discount to peers due to slower unit growth.
05/23/17
WELS
05/23/17
INITIATION
Target $30
WELS
Market Perform
Sonic initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Jon Tower started Sonic with a Market Perform rating and $30 price target.
04/24/17
04/24/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Stanley Black & Decker (SWK) upgraded to Overweight from Neutral at JPMorgan with analyst Michael Rehaut saying the company's "solid" organic growth provides room for additional share upside. The analyst raised his price target for the shares to $152 from $140 following Stanley's first quarter results. 2. KeyCorp (KEY) upgraded to Overweight from Neutral at Piper Jaffray with analyst Kevin Barker saying momentum is building following the company's "solid beat" this quarter and "very optimistic" guidance regarding loan growth and credit performance. The analyst raised his price target for the shares to $21 from $19. 3. Sonic (SONC) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying he believes it now presents an attractive buying opportunity on what he sees as a same-store sales inflection point in the third quarter, with comps likely turning positive intra-quarter, an underlying valuation that is over 20% below peers with a similar franchise percentage, and lowered expectations from recent sales softness providing for a favorable risk/ reward. The analyst also raised his price target on the shares to $32 from $26. 4. Travelers (TRV) upgraded to Buy from Hold at Argus with analyst Jacob Kilstein telling investors he expects underwriting margins to expand further following three straight quarters of expansion as the company raises prices on auto insurance and expands its data analytics and digital initiatives. Kilstein also expects Travelers to generate higher return on capital, noting its recent 7% dividend hike and additional $5B buyback, and views valuation as attractive following the pullback. 5. Wingstop (WING) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh upgraded Wingstop (WING) to Overweight from Equal Weight, with a $32 price target, as he believes it presents an attractive, multi-year opportunity for likely reaccelerating same-store sales growth that should widen its gap to the industry while benefiting from national advertising, and a likely one time dividend in the next 12-18 months that could yield a double-digit return. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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CVM

CEL-SCI

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-0.22 (-8.27%)

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TRN

Trinity Industries

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LPTN

Lpath

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PGR

Progressive

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0.12 (0.25%)

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TMO

Thermo Fisher

$172.57

-0.32 (-0.19%)

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Thermo Fisher director sells 11,318 shares »

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SMBC

Southern Missouri Bancorp

$31.18

-0.05 (-0.16%)

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IEP

Icahn Enterprises

$50.00

-0.2 (-0.40%)

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IEP

Icahn Enterprises

$50.00

-0.2 (-0.40%)

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IEP

Icahn Enterprises

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-0.2 (-0.40%)

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IEP

Icahn Enterprises

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NVTA

Invitae

$9.60

0.05 (0.52%)

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NVTA

Invitae

$9.60

0.05 (0.52%)

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MU

Micron

$30.38

0.76 (2.57%)

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Micron director sells 25,000 common shares »

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INSY

Insys Therapeutics

$9.17

-0.11 (-1.19%)

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AKTX

Akari Therapeutics

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JMBA

Jamba

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HIL

Hill International

$4.50

0.2 (4.65%)

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TGT

Target

$55.65

-0.47 (-0.84%)

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Options
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NBEV

New Age Beverages

$3.51

-0.49 (-12.25%)

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ATW

Atwood Oceanics

$6.26

0.22 (3.64%)

, ESV

Ensco

$4.28

0.12 (2.88%)

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NSRGY

Nestle

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