Sun Country Airlines (NASDAQ:SNCY) Stock Price Down 10.1% - Here's Why

Key Points

• Sun Country Airlines' stock price declined by 10.1%, trading as low as $10.48 amidst a significant drop in trading volume, down 44% from its average.
• Several analysts have adjusted their price targets, with TD Cowen increasing theirs from $14.00 to $20.00 and maintaining a "buy" rating, while Barclays lowered theirs from $24.00 to $18.00.
• Despite the stock drop, Sun Country reported impressive earnings results with a net margin of 4.96% and revenue growth of 3.6% year-over-year.

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report)'s stock price dropped 10.1% during trading on Friday . The company traded as low as $10.48 and last traded at $10.43. Approximately 542,477 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 973,225 shares. The stock had previously closed at $11.59.

Analyst Upgrades and Downgrades

SNCY has been the topic of a number of recent analyst reports. Susquehanna increased their price objective on shares of Sun Country Airlines from $11.00 to $12.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. TD Cowen increased their target price on shares of Sun Country Airlines from $14.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Barclays dropped their target price on shares of Sun Country Airlines from $24.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their target price 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Sun Country Airlines currently has an average rating of "Moderate Buy" and an average price target of $16.83.

Sun Country Airlines Price Performance

The company has a market cap of $557.73 million, a price-to-earnings ratio of 10.81, a PEG ratio of 0.25 and a beta of 1.61. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 0.77. The company's 50 day moving average price is $11.90 and its 200 day moving average price is $12.93.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last released its 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. Sun Country Airlines had a net margin of 4.96% and a return on equity of 10.28%. The company had revenue of $263.62 million during the quarter, compared to analysts' expectations of $256.04 million. During the same quarter last year, the business earned $0.06 EPS. The business's revenue was up 3.6% on a year-over-year basis. Equities research analysts forecast that Sun Country Airlines Holdings, Inc. will post 1.92 earnings per share for the current year.

Insider Activity at Sun Country Airlines

In other news, VP John Gyurci sold 3,150 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $11.49, for a total value of $36,193.50. Following the completion of the sale, the vice president owned 26,122 shares in the company, valued at approximately $300,141.78. This trade represents a 10.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 9,372 shares of company stock valued at $110,365. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Sun Country Airlines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System lifted its stake in shares of Sun Country Airlines by 17.2% in the first quarter. New York State Teachers Retirement System now owns 16,611 shares of the company's stock valued at $205,000 after purchasing an additional 2,443 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Sun Country Airlines in the first quarter valued at about $498,000. Renaissance Technologies LLC acquired a new stake in shares of Sun Country Airlines in the fourth quarter valued at about $1,475,000. JPMorgan Chase & Co. lifted its stake in shares of Sun Country Airlines by 44.3% in the fourth quarter. JPMorgan Chase & Co. now owns 370,890 shares of the company's stock valued at $5,408,000 after purchasing an additional 113,789 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Sun Country Airlines by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 916,393 shares of the company's stock valued at $13,364,000 after purchasing an additional 16,027 shares during the period.

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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