Sun Country Airlines (NASDAQ:SNCY) Shares Gap Up Following Analyst Upgrade

Key Points

• Citigroup raised its price target on Sun Country to $20 (maintaining a neutral rating), prompting the shares to gap up pre-market from $15.95 to an open of $17.04.
• The analyst consensus remains an average rating of Hold with an average price target of $20.00 (four Buy ratings and six Hold ratings).
• Fundamentals showed a recent beat as Sun Country reported quarterly EPS of $0.17 versus $0.13 expected and revenue of $280.96M (up 7.9% year-over-year), indicating improving results.

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report) shares gapped up before the market opened on Monday after Citigroup raised their price target on the stock from $18.00 to $20.00. The stock had previously closed at $15.95, but opened at $17.04. Citigroup currently has a neutral rating on the stock. Sun Country Airlines shares last traded at $16.9170, with a volume of 79,636 shares changing hands.

SNCY has been the topic of a number of other research reports. Wolfe Research cut shares of Sun Country Airlines from an "outperform" rating to a "peer perform" rating in a report on Tuesday, January 20th. Zacks Research upgraded shares of Sun Country Airlines from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 12th. TD Cowen restated a "hold" rating on shares of Sun Country Airlines in a research note on Tuesday, February 10th. Weiss Ratings restated a "hold (c)" rating on shares of Sun Country Airlines in a research note on Monday, December 29th. Finally, Susquehanna raised shares of Sun Country Airlines from a "neutral" rating to a "positive" rating and raised their price target for the company from $12.00 to $20.00 in a report on Friday, January 9th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $20.00.

Insider Buying and Selling

In other news, SVP Erin Rose Neale sold 2,257 shares of Sun Country Airlines stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $17.53, for a total transaction of $39,565.21. Following the sale, the senior vice president owned 38,931 shares in the company, valued at $682,460.43. This trade represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jude Bricker sold 5,062 shares of the business's stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $17.55, for a total value of $88,838.10. Following the completion of the sale, the chief executive officer owned 167,982 shares in the company, valued at $2,948,084.10. This represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 20,755 shares of company stock worth $334,558. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sun Country Airlines

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in Sun Country Airlines by 1,728.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,158 shares of the company's stock worth $25,000 after acquiring an additional 2,040 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Sun Country Airlines during the second quarter worth $59,000. Ameritas Investment Partners Inc. raised its holdings in Sun Country Airlines by 40.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,224 shares of the company's stock valued at $61,000 after buying an additional 1,504 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Sun Country Airlines by 183.8% during the second quarter. Tower Research Capital LLC TRC now owns 5,273 shares of the company's stock valued at $62,000 after acquiring an additional 3,415 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Sun Country Airlines in the first quarter valued at approximately $88,000.

Sun Country Airlines Price Performance

The stock has a market cap of $894.84 million, a PE ratio of 17.50, a P/E/G ratio of 0.37 and a beta of 1.55. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average of $18.40 and a 200-day moving average of $14.88.

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

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.

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