Evercore ISI Cuts Sun Country Airlines (NASDAQ:SNCY) Price Target to $19.00

Key Points

• Evercore ISI has lowered its price target for Sun Country Airlines from $20.00 to $19.00 while maintaining an "outperform" rating, suggesting a potential upside of 77.70% based on the company's previous close.
• Other analysts have also adjusted their price targets for the stock, with Barclays reducing theirs to $18.00 and TD Cowen raising theirs to $20.00, showcasing mixed sentiment in the market.
• Currently, Sun Country Airlines has a market capitalization of $568.90 million and reported quarterly earnings of $0.14 EPS, exceeding expectations and reflecting a 3.6% year-over-year revenue increase.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) had its price target reduced by Evercore ISI from $20.00 to $19.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Evercore ISI's price target indicates a potential upside of 77.70% from the company's previous close.

Several other equities analysts have also recently issued reports on the company. TD Cowen lifted their price target on Sun Country Airlines from $14.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on shares of Sun Country Airlines from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Barclays reduced their price objective on Sun Country Airlines from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Susquehanna boosted their target price on Sun Country Airlines from $11.00 to $12.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Finally, Morgan Stanley dropped their price target on Sun Country Airlines from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Sun Country Airlines currently has an average rating of "Moderate Buy" and an average target price of $17.50.

Sun Country Airlines Stock Performance

Shares of SNCY stock traded up $0.38 on Monday, hitting $10.69. 280,369 shares of the stock traded hands, compared to its average volume of 979,856. The company has a market capitalization of $568.90 million, a PE ratio of 10.12, a PEG ratio of 0.22 and a beta of 1.61. The company's fifty day moving average is $11.88 and its 200 day moving average is $12.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.60. Sun Country Airlines has a 1-year low of $8.10 and a 1-year high of $18.59.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.14 EPS for the quarter, topping 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 company's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share. On average, equities research analysts predict that Sun Country Airlines will post 1.92 earnings per share for the current fiscal year.

Insider Transactions at Sun Country Airlines

In other news, VP John Gyurci sold 3,150 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $11.49, for a total transaction of $36,193.50. Following the transaction, the vice president directly owned 26,122 shares in the company, valued at $300,141.78. The trade was a 10.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 9,372 shares of company stock valued at $110,365. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sun Country Airlines

Several institutional investors have recently made changes to their positions in SNCY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Sun Country Airlines by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,473 shares of the company's stock worth $328,000 after purchasing an additional 796 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Sun Country Airlines by 7.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 23,434 shares of the company's stock worth $274,000 after acquiring an additional 1,637 shares during the period. SummerHaven Investment Management LLC lifted its position in Sun Country Airlines by 2.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 62,488 shares of the company's stock worth $734,000 after acquiring an additional 1,685 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Sun Country Airlines by 17.2% during the first quarter. New York State Teachers Retirement System now owns 16,611 shares of the company's stock valued at $205,000 after acquiring an additional 2,443 shares during the period. Finally, Hancock Whitney Corp grew its position in shares of Sun Country Airlines by 17.4% in the first quarter. Hancock Whitney Corp now owns 17,142 shares of the company's stock valued at $211,000 after purchasing an additional 2,542 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.