Sun Country Airlines (NASDAQ:SNCY) Given “Overweight” Rating at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Sun Country Airlines (NASDAQ:SNCY) in a research note published on Thursday, Benzinga reports. Morgan Stanley currently has a $21.00 price objective on the stock.

Separately, TD Cowen cut their price objective on shares of Sun Country Airlines from $22.00 to $17.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Sun Country Airlines currently has an average rating of Moderate Buy and a consensus price target of $19.17.

Sun Country Airlines Stock Up 11.8 %

Shares of NASDAQ:SNCY opened at $11.49 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.59 and a current ratio of 0.61. Sun Country Airlines has a 52-week low of $9.22 and a 52-week high of $23.80. The firm has a market capitalization of $604.49 million, a P/E ratio of 9.42, a P/E/G ratio of 0.48 and a beta of 1.52. The stock has a 50 day moving average price of $11.90 and a 200-day moving average price of $13.82.

Sun Country Airlines (NASDAQ:SNCY) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). Sun Country Airlines had a return on equity of 14.35% and a net margin of 6.48%. The firm had revenue of $311.50 million during the quarter, compared to the consensus estimate of $316.23 million. During the same quarter last year, the company posted $0.68 EPS. Sun Country Airlines’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Sun Country Airlines will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Grant Whitney sold 5,888 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $10.68, for a total transaction of $62,883.84. Following the sale, the senior vice president now directly owns 26,355 shares of the company’s stock, valued at $281,471.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jude Bricker sold 2,145 shares of Sun Country Airlines stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $14.35, for a total value of $30,780.75. Following the completion of the sale, the chief executive officer now directly owns 124,991 shares in the company, valued at $1,793,620.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Grant Whitney sold 5,888 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $10.68, for a total transaction of $62,883.84. Following the transaction, the senior vice president now owns 26,355 shares in the company, valued at approximately $281,471.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,961 shares of company stock valued at $135,828. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Sun Country Airlines

A number of large investors have recently added to or reduced their stakes in SNCY. DekaBank Deutsche Girozentrale purchased a new position in shares of Sun Country Airlines in the 1st quarter worth $66,000. Virtu Financial LLC purchased a new position in Sun Country Airlines in the first quarter worth about $155,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Sun Country Airlines during the 1st quarter valued at about $645,000. Price T Rowe Associates Inc. MD increased its position in shares of Sun Country Airlines by 15.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,414 shares of the company’s stock valued at $309,000 after purchasing an additional 2,803 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Sun Country Airlines by 310.0% in the 1st quarter. Lazard Asset Management LLC now owns 10,341 shares of the company’s stock worth $155,000 after purchasing an additional 7,819 shares during the period.

Sun Country Airlines Company Profile

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.