Sun Country Airlines (NASDAQ:SNCY) Shares Gap Up - Time to Buy?

Key Points

• Sun Country shares gapped up pre-market, opening at $18.22 from a $17.18 close and last trading near $18.94, while analysts hold a consensus rating of "Hold" with a consensus target of $20.29.
• The company beat quarterly expectations with EPS of $0.17 vs. $0.13 expected and revenue of $280.96M (up 7.9% YoY), reporting a net margin of 4.69% and ROE of 8.92%.
• Several institutional investors (Vanguard, SummitTX, Nuveen) have materially increased positions, and the stock trades with a market cap near $993M and a P/E of about 19.1.

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $17.18, but opened at $18.22. Sun Country Airlines shares last traded at $18.9370, with a volume of 222,684 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SNCY shares. Susquehanna upgraded shares of Sun Country Airlines from a "neutral" rating to a "positive" rating and upped their target price for the stock from $12.00 to $20.00 in a research note on Friday, January 9th. Citigroup upped their target price on shares of Sun Country Airlines from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, March 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Sun Country Airlines in a research note on Monday, December 29th. TD Cowen reiterated a "hold" rating on shares of Sun Country Airlines in a research note on Tuesday, February 10th. Finally, Wolfe Research lowered shares of Sun Country Airlines from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, January 20th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $20.29.

Sun Country Airlines Stock Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.79 and a current ratio of 0.82. The stock has a market cap of $993.34 million, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 0.63 and a beta of 1.59. The company's 50 day moving average price is $18.12 and its 200-day moving average price is $15.41.

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 for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $280.96 million during the quarter, compared to analyst estimates of $272.98 million. Sun Country Airlines had a net margin of 4.69% and a return on equity of 8.92%. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. Equities analysts forecast that Sun Country Airlines Holdings, Inc. will post 1.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Sun Country Airlines

Several institutional investors have recently added to or reduced their stakes in SNCY. Vanguard Group Inc. grew its position in Sun Country Airlines by 13.9% during the third quarter. Vanguard Group Inc. now owns 4,817,742 shares of the company's stock valued at $56,898,000 after buying an additional 589,323 shares during the period. SummitTX Capital L.P. grew its position in Sun Country Airlines by 180.6% during the fourth quarter. SummitTX Capital L.P. now owns 875,650 shares of the company's stock valued at $12,601,000 after buying an additional 563,631 shares during the period. TCW Group Inc. bought a new position in Sun Country Airlines during the fourth quarter valued at about $8,041,000. Thomist Capital Management LP grew its position in Sun Country Airlines by 1,864.4% during the fourth quarter. Thomist Capital Management LP now owns 555,935 shares of the company's stock valued at $8,002,000 after buying an additional 527,635 shares during the period. Finally, Nuveen LLC grew its position in Sun Country Airlines by 537.7% during the fourth quarter. Nuveen LLC now owns 623,623 shares of the company's stock valued at $8,974,000 after buying an additional 525,824 shares during the period.

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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