Sun Country Airlines (NASDAQ:SNCY) Reaches New 1-Year Low After Earnings Miss

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report)'s share price hit a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $11.63 and last traded at $11.75, with a volume of 120637 shares trading hands. The stock had previously closed at $12.32.

The company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). The firm had revenue of $311.50 million for 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 business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Barclays boosted their target price on shares of Sun Country Airlines from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, February 5th. TD Cowen reduced their price target on shares of Sun Country Airlines from $22.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday. Susquehanna reissued a "neutral" rating and issued a $15.00 price target (down from $17.00) on shares of Sun Country Airlines in a research report on Wednesday, January 10th. Finally, Morgan Stanley raised shares of Sun Country Airlines from an "equal weight" rating to an "overweight" rating and set a $21.00 price target for the company in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Sun Country Airlines presently has a consensus rating of "Moderate Buy" and an average target price of $19.17.

Insider Activity

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 value of $30,780.75. Following the completion of the sale, the chief executive officer now directly owns 124,991 shares of the company's stock, valued at $1,793,620.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 5,073 shares of company stock valued at $72,944. Insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Sun Country Airlines

A number of institutional investors and hedge funds have recently made changes to their positions in SNCY. Assetmark Inc. raised its holdings in Sun Country Airlines by 39.0% during the fourth quarter. Assetmark Inc. now owns 3,314 shares of the company's stock worth $52,000 after purchasing an additional 929 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Sun Country Airlines by 71.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,593 shares of the company's stock worth $53,000 after purchasing an additional 1,498 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Sun Country Airlines by 7.4% during the third quarter. New York State Teachers Retirement System now owns 12,917 shares of the company's stock worth $192,000 after purchasing an additional 887 shares in the last quarter. Barclays PLC raised its holdings in Sun Country Airlines by 13.7% during the third quarter. Barclays PLC now owns 16,627 shares of the company's stock worth $247,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Sun Country Airlines during the first quarter worth about $251,000.

Sun Country Airlines Stock Down 8.0 %

The company has a debt-to-equity ratio of 1.09, a current ratio of 0.65 and a quick ratio of 0.63. The firm's 50-day simple moving average is $14.31 and its two-hundred day simple moving average is $14.54. The company has a market capitalization of $604.04 million, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 0.47 and a beta of 1.63.

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.