Sun Country Airlines (NASDAQ:SNCY) Shares Gap Up Following Analyst Upgrade

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) shares gapped up before the market opened on Monday after Citigroup raised their price target on the stock from $18.00 to $20.00. The stock had previously closed at $15.95, but opened at $17.04. Citigroup currently has a neutral rating on the stock. Sun Country Airlines shares last traded at $16.9170, with a volume of 79,636 shares.

Several other analysts have also commented on SNCY. Wolfe Research lowered shares of Sun Country Airlines from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $19.00 target price (down from $22.00) on shares of Sun Country Airlines in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Country Airlines in a report on Monday, December 29th. Susquehanna raised Sun Country Airlines from a “neutral” rating to a “positive” rating and raised their price target for the stock from $12.00 to $20.00 in a research report on Friday, January 9th. Finally, Zacks Research upgraded Sun Country Airlines from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.00.

Insider Activity

In related news, SVP Erin Rose Neale sold 2,257 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $17.53, for a total transaction of $39,565.21. Following the sale, the senior vice president owned 38,931 shares in the company, valued at approximately $682,460.43. This trade represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stephen Andrew Coley sold 2,052 shares of Sun Country Airlines stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $15.09, for a total transaction of $30,964.68. Following the completion of the sale, the senior vice president directly owned 45,040 shares of the company’s stock, valued at $679,653.60. The trade was a 4.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,755 shares of company stock valued at $334,558 over the last 90 days. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Sun Country Airlines

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in Sun Country Airlines by 1,728.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,158 shares of the company’s stock valued at $25,000 after purchasing an additional 2,040 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Sun Country Airlines in the 2nd quarter worth about $59,000. Ameritas Investment Partners Inc. grew its holdings in Sun Country Airlines by 40.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,224 shares of the company’s stock valued at $61,000 after buying an additional 1,504 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Sun Country Airlines by 183.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,273 shares of the company’s stock valued at $62,000 after acquiring an additional 3,415 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Sun Country Airlines during the 1st quarter valued at about $88,000.

Sun Country Airlines Stock Performance

The firm has a market capitalization of $896.22 million, a PE ratio of 17.54, a price-to-earnings-growth ratio of 0.37 and a beta of 1.55. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.79 and a current ratio of 0.82. The company’s fifty day moving average price is $18.38 and its two-hundred day moving average price is $14.91.

Sun Country Airlines (NASDAQ:SNCY) last released its earnings results on Thursday, February 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Sun Country Airlines had a net margin of 4.69% and a return on equity of 8.92%. The firm had revenue of $280.96 million during the quarter, compared to the consensus estimate of $272.98 million. During the same period in the previous year, the firm earned $0.27 earnings per share. Sun Country Airlines’s revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that Sun Country Airlines Holdings, Inc. will post 1.92 earnings per share for the current year.

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.