Sonic Rises On Unusually High Volume (SONC)
NEW YORK (
) --
(Nasdaq:
) is trading at unusually high volume Tuesday with 1.7 million shares changing hands. It is currently at four times its average daily volume and trading up 17 cents (+2.2%) at $7.98 as of 2:34 p.m. ET.
Sonic has a market cap of $406.9 million and is part of the
sector and
industry. Shares are up 16% year to date as of the close of trading on Monday.
Sonic Corp. operates and franchises a chain of quick-service drive-in restaurants in the United States. As of October 03, 2011, the company operated and franchised approximately 3,500 drive-ins. It also leases signs and real estate. The company has a P/E ratio of 26.9, above the average leisure industry P/E ratio of 19.2 and above the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Sonic as a
. Among the primary strengths of the company is its respectable return on equity which we feel is likely to continue. At the same time, however, we also find weaknesses including deteriorating net income, poor profit margins and weak operating cash flow. You can view the full
.
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