Sun Country Airlines (NASDAQ:SNCY) Sets New 12-Month Low After Analyst Downgrade

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) shares hit a new 52-week low on Wednesday after TD Cowen lowered their price target on the stock from $22.00 to $17.00. TD Cowen currently has a buy rating on the stock. Sun Country Airlines traded as low as $11.63 and last traded at $11.75, with a volume of 120637 shares traded. The stock had previously closed at $12.32.

SNCY has been the topic of a number of other research reports. Susquehanna reiterated a “neutral” rating and set a $15.00 price objective (down previously from $17.00) on shares of Sun Country Airlines in a research report on Wednesday, January 10th. Barclays boosted their target price on shares of Sun Country Airlines from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 5th. Finally, Morgan Stanley raised shares of Sun Country Airlines from an “equal weight” rating to an “overweight” rating and set a $21.00 price objective for the company in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sun Country Airlines currently has a consensus rating of “Moderate Buy” and an average price target of $19.17.

Insiders Place Their Bets

In other news, CEO Jude Bricker sold 2,145 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $14.35, for a total transaction of $30,780.75. Following the transaction, the chief executive officer now owns 124,991 shares in the company, valued at $1,793,620.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 5,073 shares of company stock worth $72,944. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sun Country Airlines

Hedge funds have recently modified their holdings of the stock. Illinois Municipal Retirement Fund increased its holdings in Sun Country Airlines by 3.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 21,711 shares of the company’s stock worth $342,000 after buying an additional 776 shares during the period. New York State Teachers Retirement System lifted its holdings in Sun Country Airlines by 7.4% in the 3rd quarter. New York State Teachers Retirement System now owns 12,917 shares of the company’s stock valued at $192,000 after purchasing an additional 887 shares in the last quarter. Assetmark Inc. increased its stake in shares of Sun Country Airlines by 39.0% in the 4th quarter. Assetmark Inc. now owns 3,314 shares of the company’s stock worth $52,000 after acquiring an additional 929 shares during the last quarter. Amalgamated Bank increased its stake in shares of Sun Country Airlines by 9.2% in the 3rd quarter. Amalgamated Bank now owns 17,153 shares of the company’s stock worth $255,000 after acquiring an additional 1,447 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Sun Country Airlines by 71.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,593 shares of the company’s stock worth $53,000 after acquiring an additional 1,498 shares during the last quarter.

Sun Country Airlines Stock Up 0.7 %

The firm has a market capitalization of $608.57 million, a price-to-earnings ratio of 9.29, a P/E/G ratio of 0.47 and a beta of 1.63. The business has a 50 day simple moving average of $14.22 and a 200-day simple moving average of $14.52. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.63 and a current ratio of 0.65.

Sun Country Airlines (NASDAQ:SNCY) last issued its earnings results on Monday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The company had revenue of $311.50 million during the quarter, compared to analyst estimates of $316.23 million. Sun Country Airlines had a return on equity of 15.23% and a net margin of 6.88%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. On average, equities analysts expect that Sun Country Airlines Holdings, Inc. will post 1.64 EPS for the current year.

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.