Sun Country Airlines (NASDAQ:SNCY) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Sun Country Airlines (NASDAQ:SNCY) from a strong sell rating to a hold rating in a research note published on Thursday morning,Zacks.com reports.

A number of other brokerages have also recently weighed in on SNCY. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sun Country Airlines in a research report on Monday, December 29th. Citigroup boosted their price objective on Sun Country Airlines from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Wolfe Research lowered Sun Country Airlines from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 20th. TD Cowen reissued a “hold” rating on shares of Sun Country Airlines in a research report on Tuesday. Finally, Susquehanna raised shares of Sun Country Airlines from a “neutral” rating to a “positive” rating and increased their price objective for the company from $12.00 to $20.00 in a research report on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Sun Country Airlines presently has an average rating of “Hold” and an average price target of $19.75.

Sun Country Airlines Stock Up 1.7%

SNCY opened at $21.19 on Thursday. Sun Country Airlines has a 1 year low of $8.10 and a 1 year high of $22.29. The firm has a 50 day moving average price of $16.68 and a 200 day moving average price of $13.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.73 and a current ratio of 0.82. The company has a market cap of $1.12 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 0.48 and a beta of 1.58.

Sun Country Airlines (NASDAQ:SNCY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Sun Country Airlines had a net margin of 4.69% and a return on equity of 8.92%. The firm had revenue of $280.96 million for the quarter, compared to analysts’ expectations of $272.98 million. During the same period in the previous year, the company posted $0.27 earnings per share. Sun Country Airlines’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Sun Country Airlines will post 1.92 earnings per share for the current year.

Insider Buying and Selling

In other Sun Country Airlines news, CEO Jude Bricker sold 5,514 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $14.97, for a total value of $82,544.58. Following the transaction, the chief executive officer directly owned 173,044 shares of the company’s stock, valued at $2,590,468.68. This represents a 3.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Erin Rose Neale sold 2,257 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $17.53, for a total value of $39,565.21. Following the transaction, the senior vice president owned 38,931 shares of the company’s stock, valued at approximately $682,460.43. This trade represents a 5.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 21,378 shares of company stock worth $343,249. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Sun Country Airlines

Several institutional investors have recently added to or reduced their stakes in SNCY. Apollo Management Holdings L.P. acquired a new stake in shares of Sun Country Airlines during the 2nd quarter valued at approximately $6,821,000. Jefferies Financial Group Inc. bought a new position in Sun Country Airlines in the second quarter worth about $776,000. Exchange Traded Concepts LLC bought a new position in Sun Country Airlines in the third quarter worth about $1,098,000. Y Intercept Hong Kong Ltd acquired a new position in Sun Country Airlines in the third quarter valued at approximately $858,000. Finally, Prospera Financial Services Inc bought a new position in shares of Sun Country Airlines during the second quarter valued at approximately $345,000.

About Sun Country Airlines

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.