Sun Country Airlines (NASDAQ:SNCY) Hits New 52-Week High on Strong Earnings

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

The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Sun Country Airlines had a net margin of 4.25% and a return on equity of 9.00%.

Wall Street Analyst Weigh In

A number of research firms recently commented on SNCY. JPMorgan Chase & Co. initiated coverage on shares of Sun Country Airlines in a report on Wednesday, January 22nd. They issued an “overweight” rating and a $23.00 target price on the stock. 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. Wolfe Research raised shares of Sun Country Airlines from a “peer perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research report on Tuesday, October 8th. Barclays boosted their price objective on shares of Sun Country Airlines from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Susquehanna boosted their price objective on shares of Sun Country Airlines from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Insider Transactions at Sun Country Airlines

In other news, VP John Gyurci sold 1,593 shares of the stock in a transaction 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 transaction, the vice president now owns 11,618 shares in the company, valued at approximately $197,506. This represents a 12.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David M. Davis sold 59,389 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $17.05, for a total transaction of $1,012,582.45. Following the completion of the transaction, the chief financial officer now owns 32,260 shares of the company’s stock, valued at approximately $550,033. This represents a 64.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 279,932 shares of company stock worth $4,606,474. 4.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Sun Country Airlines

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of Sun Country Airlines by 76.9% during the third quarter. Farther Finance Advisors LLC now owns 2,300 shares of the company’s stock worth $26,000 after purchasing an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Sun Country Airlines by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,971 shares of the company’s stock valued at $188,000 after buying an additional 1,087 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Sun Country Airlines by 11.9% in the 4th quarter. New York State Teachers Retirement System now owns 14,168 shares of the company’s stock valued at $207,000 after buying an additional 1,505 shares during the period. Creative Planning raised its position in shares of Sun Country Airlines by 36.0% during the third quarter. Creative Planning now owns 18,734 shares of the company’s stock worth $210,000 after acquiring an additional 4,954 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Sun Country Airlines by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 190,554 shares of the company’s stock valued at $2,778,000 after acquiring an additional 5,760 shares during the period.

Sun Country Airlines Stock Down 5.2 %

The firm has a 50 day moving average price of $15.37 and a 200-day moving average price of $13.06. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.59 and a quick ratio of 0.57. The firm has a market cap of $833.86 million, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 0.38 and a beta of 1.46.

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.