Sun Country Airlines (NASDAQ:SNCY) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Sun Country Airlines (NASDAQ:SNCY) from a hold rating to a strong sell rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of Sun Country Airlines in a research report on Monday, November 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $19.00 price target (down previously from $22.00) on shares of Sun Country Airlines in a report on Tuesday, January 13th. Citigroup raised their price objective on shares of Sun Country Airlines from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Evercore ISI upped their target price on shares of Sun Country Airlines from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Finally, Susquehanna upgraded shares of Sun Country Airlines from a “neutral” rating to a “positive” rating and lifted their price target for the company from $12.00 to $20.00 in a research report on Friday, January 9th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Sun Country Airlines presently has a consensus rating of “Hold” and a consensus price target of $19.63.

Sun Country Airlines Price Performance

Shares of NASDAQ:SNCY opened at $17.19 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.76 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $15.10 and a 200 day moving average price of $13.16. Sun Country Airlines has a 52 week low of $8.10 and a 52 week high of $18.59. The company has a market cap of $906.26 million, a P/E ratio of 16.37, a PEG ratio of 0.38 and a beta of 1.57.

Insider Buying and Selling

In other news, CEO Jude Bricker sold 5,514 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $14.97, for a total value of $82,544.58. Following the completion of the transaction, the chief executive officer directly owned 173,044 shares of the company’s stock, valued at $2,590,468.68. The trade was a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Erin Rose Neale sold 2,257 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $17.53, for a total value of $39,565.21. Following the completion of the sale, the senior vice president owned 38,931 shares in the company, valued at $682,460.43. This represents a 5.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,626 shares of company stock worth $329,766 in the last ninety days. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its holdings in Sun Country Airlines by 61.3% in the 4th quarter. State of Alaska Department of Revenue now owns 48,413 shares of the company’s stock valued at $695,000 after purchasing an additional 18,394 shares in the last quarter. Brookwood Investment Group LLC purchased a new position in shares of Sun Country Airlines during the fourth quarter valued at approximately $168,000. Baron Wealth Management LLC acquired a new stake in Sun Country Airlines during the fourth quarter worth approximately $189,000. Exchange Traded Concepts LLC grew its stake in Sun Country Airlines by 4.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 97,282 shares of the company’s stock worth $1,400,000 after acquiring an additional 4,316 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Sun Country Airlines in the 4th quarter valued at $297,000.

Sun Country Airlines Company Profile

Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.