Sun Country Airlines (NASDAQ:SNCY) Upgraded to Hold at Zacks Research

Sun Country Airlines (NASDAQ:SNCY) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $19.00 price objective (down from $22.00) on shares of Sun Country Airlines in a report on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Country Airlines in a research note on Monday, December 29th. TD Cowen reissued a “hold” rating on shares of Sun Country Airlines in a research note on Tuesday. Citigroup raised their target price on Sun Country Airlines from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Finally, Susquehanna raised Sun Country Airlines from a “neutral” rating to a “positive” rating and lifted their target price for the company from $12.00 to $20.00 in a research report on Friday, January 9th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Sun Country Airlines currently has a consensus rating of “Hold” and a consensus target price of $19.75.

Sun Country Airlines Price Performance

Shares of NASDAQ:SNCY opened at $21.19 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. Sun Country Airlines has a twelve month low of $8.10 and a twelve month high of $22.29. The stock’s 50 day moving average is $16.68 and its 200-day moving average is $13.77. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 0.48 and a beta of 1.58.

Sun Country Airlines (NASDAQ:SNCY) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The business had revenue of $280.96 million during the quarter, compared to the consensus estimate of $272.98 million. Sun Country Airlines had a net margin of 4.69% and a return on equity of 8.92%. Sun Country Airlines’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. Sell-side analysts forecast that Sun Country Airlines will post 1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Stephen Andrew Coley sold 2,052 shares of Sun Country Airlines stock in a transaction 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 sale, the senior vice president directly owned 45,040 shares in the company, valued at approximately $679,653.60. This trade represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 in the company, valued at approximately $2,590,468.68. This represents a 3.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,378 shares of company stock valued at $343,249 in the last 90 days. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sun Country Airlines

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sun Country Airlines by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,487 shares of the company’s stock valued at $289,000 after buying an additional 1,014 shares during the period. Goldman Sachs Group Inc. raised its position in Sun Country Airlines by 6.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,167,547 shares of the company’s stock worth $14,384,000 after acquiring an additional 74,558 shares during the period. Empowered Funds LLC boosted its stake in Sun Country Airlines by 2.0% in the first quarter. Empowered Funds LLC now owns 228,893 shares of the company’s stock valued at $2,820,000 after acquiring an additional 4,569 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Sun Country Airlines during the 1st quarter valued at approximately $88,000. Finally, CWM LLC grew its position in shares of Sun Country Airlines by 1,439.4% during the 2nd quarter. CWM LLC now owns 29,063 shares of the company’s stock valued at $341,000 after acquiring an additional 27,175 shares during the period.

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.