Sun Country Airlines (NASDAQ:SNCY) Price Target Lowered to $20.00 at Morgan Stanley

Sun Country Airlines (NASDAQ:SNCY) had its target price cut by Morgan Stanley from $21.00 to $20.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

SNCY has been the topic of a number of other reports. Susquehanna lifted their target price on Sun Country Airlines from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Barclays decreased their price target on Sun Country Airlines from $24.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. TD Cowen boosted their price objective on Sun Country Airlines from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Sun Country Airlines from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Sun Country Airlines Stock Performance

NASDAQ:SNCY opened at $10.55 on Monday. The company has a 50-day moving average of $11.88 and a 200-day moving average of $12.81. The firm has a market cap of $561.37 million, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 0.22 and a beta of 1.61. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 0.72. Sun Country Airlines has a twelve month low of $8.10 and a twelve month high of $18.59.

Sun Country Airlines (NASDAQ:SNCY) last released its earnings results on Thursday, July 31st. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $263.62 million during the quarter, compared to analyst estimates of $256.04 million. Sun Country Airlines had a net margin of 5.35% and a return on equity of 10.53%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 earnings per share. Analysts forecast that Sun Country Airlines will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Sun Country Airlines

In other news, VP John Gyurci sold 3,150 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $11.49, for a total value of $36,193.50. Following the completion of the sale, the vice president directly owned 26,122 shares of the company’s stock, valued at $300,141.78. This represents a 10.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 9,372 shares of company stock valued at $110,365. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sun Country Airlines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System increased its stake in shares of Sun Country Airlines by 17.2% in the first quarter. New York State Teachers Retirement System now owns 16,611 shares of the company’s stock worth $205,000 after acquiring an additional 2,443 shares during the last quarter. SG Americas Securities LLC purchased a new position in Sun Country Airlines in the first quarter valued at about $498,000. Renaissance Technologies LLC acquired a new position in Sun Country Airlines in the 4th quarter worth about $1,475,000. JPMorgan Chase & Co. increased its position in Sun Country Airlines by 44.3% in the 4th quarter. JPMorgan Chase & Co. now owns 370,890 shares of the company’s stock worth $5,408,000 after purchasing an additional 113,789 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Sun Country Airlines by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 916,393 shares of the company’s stock worth $13,364,000 after purchasing an additional 16,027 shares in the last quarter.

About Sun Country Airlines

Sun Country Airlines Holdings, Inc, an air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. It operates through two segments, Passenger and Cargo. The company also provides crew, maintenance, and insurance services through ad hoc, repeat, short-term, and long-term service contracts; and loyalty program rewards.