Sun Country Airlines (NASDAQ:SNCY) Cut to Hold at Wall Street Zen

Key Points

• Sun Country Airlines has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, amid mixed reviews from other research firms regarding the company's stock.
• Despite a recent downgrade, JPMorgan Chase upgraded its target price for the stock from $18.00 to $23.00, maintaining an "overweight" rating.
• CEO Jude Bricker sold shares valued at approximately $25,000, dropping his ownership by 1.70%, while insiders sold 8,853 shares worth $112,101 over the past quarter.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Several other research firms have also recently issued reports on SNCY. JPMorgan Chase & Co. raised their target price on Sun Country Airlines from $18.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Evercore ISI raised their target price on Sun Country Airlines from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Susquehanna raised their target price on Sun Country Airlines from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Sun Country Airlines in a research report on Wednesday, October 8th. Finally, Morgan Stanley cut their price objective on Sun Country Airlines from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.71.

Sun Country Airlines Stock Up 1.1%

NASDAQ SNCY opened at $11.51 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.59. The stock has a market capitalization of $613.71 million, a PE ratio of 10.86, a PEG ratio of 0.38 and a beta of 1.59. Sun Country Airlines has a 1 year low of $8.10 and a 1 year high of $18.59. The business's 50-day moving average is $12.28 and its 200 day moving average is $11.68.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last posted its earnings results on Wednesday, June 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $127.61 million during the quarter. Sun Country Airlines had a return on equity of 10.53% and a net margin of 5.35%. Sell-side analysts forecast that Sun Country Airlines will post 1.92 earnings per share for the current year.

Insider Activity at Sun Country Airlines

In other news, CEO Jude Bricker sold 2,139 shares of Sun Country Airlines stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $11.69, for a total transaction of $25,004.91. Following the completion of the transaction, the chief executive officer directly owned 123,347 shares in the company, valued at approximately $1,441,926.43. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Gyurci sold 5,000 shares of Sun Country Airlines stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $13.18, for a total transaction of $65,900.00. Following the transaction, the vice president owned 25,109 shares of the company's stock, valued at $330,936.62. The trade was a 16.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,853 shares of company stock valued at $112,101 over the last quarter. Company insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Sun Country Airlines

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Sun Country Airlines by 9.5% during the first quarter. Vanguard Group Inc. now owns 5,037,727 shares of the company's stock valued at $62,065,000 after purchasing an additional 437,550 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in Sun Country Airlines by 53.3% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 3,533,617 shares of the company's stock worth $41,520,000 after acquiring an additional 1,228,721 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Sun Country Airlines by 1.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,178,770 shares of the company's stock worth $37,351,000 after acquiring an additional 43,197 shares during the last quarter. U S Global Investors Inc. raised its holdings in Sun Country Airlines by 20.6% in the 2nd quarter. U S Global Investors Inc. now owns 2,076,107 shares of the company's stock worth $24,394,000 after acquiring an additional 354,569 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Sun Country Airlines by 9.3% in the 2nd quarter. American Century Companies Inc. now owns 1,838,342 shares of the company's stock worth $21,601,000 after acquiring an additional 156,522 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.

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