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

Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $17.75 and last traded at $15.66, with a volume of 247645 shares. 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. Sun Country Airlines had a net margin of 4.25% and a return on equity of 9.00%. The business had revenue of $260.40 million during the quarter, compared to analyst estimates of $258.04 million. During the same quarter last year, the business earned $0.12 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNCY. JPMorgan Chase & Co. began coverage on shares of Sun Country Airlines in a report on Wednesday, January 22nd. They set an “overweight” rating and a $23.00 price target on the stock. Susquehanna lifted their target price on Sun Country Airlines from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Barclays increased their price target on Sun Country Airlines from $20.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $17.00 price objective on shares of Sun Country Airlines in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Insider Buying and Selling

In other news, SVP Erin Rose Neale sold 1,738 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $14.88, for a total value of $25,861.44. Following the completion of the sale, the senior vice president now directly owns 30,142 shares in the company, valued at $448,512.96. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO David M. Davis sold 59,389 shares of the company’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 value of $1,012,582.45. Following the transaction, the chief financial officer now directly owns 32,260 shares in the company, valued at approximately $550,033. This trade represents a 64.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 242,279 shares of company stock valued at $4,031,056 over the last 90 days. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Sun Country Airlines

A number of hedge funds have recently added to or reduced their stakes in SNCY. Farther Finance Advisors LLC lifted its holdings in shares of Sun Country Airlines by 76.9% in the 3rd 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. US Bancorp DE lifted its stake in shares of Sun Country Airlines by 4,522.7% in the third quarter. US Bancorp DE now owns 8,367 shares of the company’s stock valued at $94,000 after buying an additional 8,186 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Sun Country Airlines during the third quarter valued at about $132,000. Stoneridge Investment Partners LLC acquired a new position in shares of Sun Country Airlines during the fourth quarter valued at about $154,000. Finally, SG Americas Securities LLC bought a new stake in shares of Sun Country Airlines during the third quarter worth about $159,000.

Sun Country Airlines Stock Down 0.9 %

The company has a market cap of $837.51 million, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 0.38 and a beta of 1.46. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.57 and a current ratio of 0.59. The stock’s fifty day moving average is $15.44 and its two-hundred day moving average is $13.11.

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.