Sun Country Airlines (NASDAQ:SNCY) Trading Up 9.1% - Here's What Happened

Key Points

• Sun Country Airlines' shares rose 9.1% during mid-day trading, closing at $11.83, after a previous close of $10.84, with trading volume significantly down from average levels.
• Equities analysts have mixed ratings on SNCY, with a consensus rating of "Moderate Buy" and an average price target of $17.38, reflecting revisions in price targets from various firms.
• The company reported a net revenue increase of 3.6% year-over-year, with a quarterly EPS of $0.14, exceeding analyst expectations, demonstrating solid performance despite fluctuating market dynamics.

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report)'s share price traded up 9.1% during trading on Tuesday . The company traded as high as $11.63 and last traded at $11.83. 78,368 shares were traded during trading, a decline of 92% from the average session volume of 981,064 shares. The stock had previously closed at $10.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Evercore ISI reduced their price objective on shares of Sun Country Airlines from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. Susquehanna restated a "neutral" rating and set a $11.00 price objective (down from $12.00) on shares of Sun Country Airlines in a research note on Tuesday, August 5th. JPMorgan Chase & Co. reduced their price objective on shares of Sun Country Airlines from $23.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. TD Cowen upped their target price on shares of Sun Country Airlines from $14.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley dropped their target price on shares of Sun Country Airlines from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $17.38.

Sun Country Airlines Stock Performance

The stock has a market capitalization of $650.50 million, a P/E ratio of 11.51, a PEG ratio of 0.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 0.63. The company's fifty day simple moving average is $11.84 and its two-hundred day simple moving average is $12.54.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $263.62 million for the quarter, compared to analysts' expectations of $256.04 million. Sun Country Airlines had a net margin of 5.35% and a return on equity of 10.53%. The business's revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. As a group, equities analysts forecast that Sun Country Airlines Holdings, Inc. will post 1.92 EPS for the current year.

Insider Activity

In other Sun Country Airlines news, VP John Gyurci sold 3,150 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $11.49, for a total transaction of $36,193.50. Following the transaction, the vice president owned 26,122 shares in the company, valued at $300,141.78. This represents a 10.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 9,372 shares of company stock worth $110,365. Corporate insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of Sun Country Airlines by 1,728.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,158 shares of the company's stock worth $25,000 after purchasing an additional 2,040 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Sun Country Airlines by 1,556.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,490 shares of the company's stock worth $53,000 after acquiring an additional 4,219 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Sun Country Airlines by 493.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,757 shares of the company's stock worth $56,000 after acquiring an additional 3,955 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Sun Country Airlines during the 2nd quarter worth approximately $59,000. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Sun Country Airlines by 40.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,224 shares of the company's stock worth $61,000 after acquiring an additional 1,504 shares in 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.