Sun Country Airlines (NASDAQ:SNCY) Sets New 1-Year High After Earnings Beat

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)’s share price reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $17.75 and last traded at $15.66, with a volume of 247645 shares trading hands. The stock had previously closed at $16.62.

The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The firm had revenue of $260.40 million during the quarter, compared to analyst estimates of $258.04 million. Sun Country Airlines had a net margin of 4.25% and a return on equity of 9.00%. Sun Country Airlines’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNCY. Barclays increased their target price on shares of Sun Country Airlines from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 price objective on shares of Sun Country Airlines in a research report on Friday, November 15th. Susquehanna boosted their target price on Sun Country Airlines from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Wolfe Research upgraded Sun Country Airlines from a “peer perform” rating to an “outperform” rating and set a $14.00 price target for the company in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. assumed coverage on Sun Country Airlines in a report on Wednesday, January 22nd. They issued an “overweight” rating and a $23.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sun Country Airlines has an average rating of “Moderate Buy” and an average target price of $19.29.

Insider Activity

In related news, CFO David M. Davis sold 59,389 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $17.05, for a total transaction of $1,012,582.45. Following the transaction, the chief financial officer now owns 32,260 shares in the company, valued at $550,033. This trade represents a 64.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John Gyurci sold 1,593 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $17.00, for a total value of $27,081.00. Following the completion of the sale, the vice president now owns 11,618 shares of the company’s stock, valued at approximately $197,506. This represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 242,279 shares of company stock worth $4,031,056. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sun Country Airlines

Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Sun Country Airlines by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 14,971 shares of the company’s stock worth $188,000 after buying an additional 1,087 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Sun Country Airlines during the third quarter worth $159,000. Creative Planning grew its position in Sun Country Airlines by 36.0% in the 3rd quarter. Creative Planning now owns 18,734 shares of the company’s stock valued at $210,000 after buying an additional 4,954 shares during the last quarter. U S Global Investors Inc. grew its position in Sun Country Airlines by 14.2% in the 3rd quarter. U S Global Investors Inc. now owns 2,705,789 shares of the company’s stock valued at $30,332,000 after buying an additional 336,086 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Sun Country Airlines by 4.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 223,266 shares of the company’s stock worth $2,503,000 after buying an additional 10,462 shares during the last quarter.

Sun Country Airlines Price Performance

The company has a market cap of $845.45 million, a price-to-earnings ratio of 19.72, a PEG ratio of 0.38 and a beta of 1.46. The company’s 50 day moving average price is $15.41 and its 200 day moving average price is $13.09. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.96.

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.