TD Cowen Issues Pessimistic Forecast for Sun Country Airlines (NASDAQ:SNCY) Stock Price

Key Points

• TD Cowen cut its price target on Sun Country (SNCY) from $22 to $17 while maintaining a "buy" rating, leaving a negligible implied downside (~0.12%) from the prior close.
• Analyst sentiment is mixed with a consensus Hold rating and a $19.57 average price target (4 Buy, 4 Hold, 1 Sell), indicating no clear analyst conviction.
• SNCY trades near $17.02 with a market cap of about $922M; the company beat quarterly EPS ($0.17 vs. $0.13) and revenue ($281M vs. $273M) with 7.9% YoY revenue growth but modest net margins (3.55%).

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) had its price objective dropped by equities research analysts at TD Cowen from $22.00 to $17.00 in a note issued to investors on Friday. The firm currently has a "buy" rating on the stock. TD Cowen's price objective points to a potential downside of 0.12% from the company's previous close.

Several other research analysts have also commented on the stock. Susquehanna upgraded shares of Sun Country Airlines from a "neutral" rating to a "positive" rating and increased their price target for the stock from $12.00 to $20.00 in a research note on Friday, January 9th. Zacks Research cut shares of Sun Country Airlines from a "hold" rating to a "strong sell" rating in a report on Monday, April 13th. Wolfe Research downgraded shares of Sun Country Airlines from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. restated a "neutral" rating and set a $19.00 target price (down from $22.00) on shares of Sun Country Airlines in a report on Tuesday, January 13th. Finally, Citigroup upped their price target on Sun Country Airlines from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, March 20th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $19.57.

Sun Country Airlines Stock Up 0.9%

SNCY opened at $17.02 on Friday. The company has a market capitalization of $922.48 million, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.83 and a quick ratio of 0.79. Sun Country Airlines has a fifty-two week low of $10.14 and a fifty-two week high of $22.29. The business has a 50-day moving average of $17.00 and a 200-day moving average of $15.93.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. The firm had revenue of $280.96 million for the quarter, compared to the consensus estimate of $272.98 million. Sun Country Airlines had a return on equity of 6.45% and a net margin of 3.55%.The firm's revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. Equities research analysts forecast that Sun Country Airlines will post 1 EPS for the current fiscal year.

Institutional Investors Weigh In On Sun Country Airlines

Several hedge funds and other institutional investors have recently modified their holdings of SNCY. Assenagon Asset Management S.A. raised its stake in Sun Country Airlines by 995.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 726,460 shares of the company's stock valued at $12,001,000 after purchasing an additional 660,149 shares during the last quarter. Vanguard Group Inc. grew its position in Sun Country Airlines by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,817,742 shares of the company's stock worth $56,898,000 after purchasing an additional 589,323 shares during the last quarter. SummitTX Capital L.P. increased its holdings in shares of Sun Country Airlines by 180.6% during the 4th quarter. SummitTX Capital L.P. now owns 875,650 shares of the company's stock worth $12,601,000 after purchasing an additional 563,631 shares during the period. TCW Group Inc. bought a new position in shares of Sun Country Airlines during the 4th quarter worth about $8,041,000. Finally, Thomist Capital Management LP raised its position in shares of 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 last quarter.

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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