Sun Country Airlines (NASDAQ:SNCY) Reaches New 52-Week High – Here’s Why

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $16.34 and last traded at $16.31, with a volume of 216737 shares traded. The stock had previously closed at $15.66.

Analyst Ratings Changes

SNCY has been the topic of a number of research reports. Susquehanna raised their price target on Sun Country Airlines from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday. The Goldman Sachs Group reissued a “neutral” rating and issued a $17.00 target price on shares of Sun Country Airlines in a report on Friday, November 15th. Barclays increased their price target on Sun Country Airlines from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, 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 note on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sun Country Airlines currently has a consensus rating of “Moderate Buy” and an average target price of $18.67.

Sun Country Airlines Price Performance

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 price is $14.78 and its 200-day moving average price is $12.57. The firm has a market cap of $855.51 million, a PE ratio of 19.95, a P/E/G ratio of 0.71 and a beta of 1.44.

Sun Country Airlines (NASDAQ:SNCY) last issued its earnings results on Wednesday, October 30th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The company had revenue of $249.50 million during the quarter, compared to analysts’ expectations of $250.30 million. Sun Country Airlines had a net margin of 4.25% and a return on equity of 9.00%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. As a group, equities analysts forecast that Sun Country Airlines Holdings, Inc. will post 0.92 EPS for the current fiscal year.

Insider Transactions at Sun Country Airlines

In related news, CFO David M. Davis sold 2,115 shares of Sun Country Airlines stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $14.51, for a total transaction of $30,688.65. Following the completion of the sale, the chief financial officer now owns 36,158 shares in the company, valued at approximately $524,652.58. This trade represents a 5.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Erin Rose Neale sold 1,738 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $14.88, for a total transaction of $25,861.44. Following the completion of the transaction, the senior vice president now directly owns 30,142 shares of the company’s stock, valued at $448,512.96. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,504 shares of company stock valued at $1,313,710 in the last 90 days. 4.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sun Country Airlines

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of Sun Country Airlines by 76.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,300 shares of the company’s stock worth $26,000 after acquiring an additional 1,000 shares during the period. US Bancorp DE raised its stake in Sun Country Airlines by 4,522.7% during the third quarter. US Bancorp DE now owns 8,367 shares of the company’s stock worth $94,000 after purchasing an additional 8,186 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Sun Country Airlines in the 2nd quarter valued at $124,000. Paloma Partners Management Co purchased a new stake in shares of Sun Country Airlines during the 3rd quarter valued at $132,000. Finally, SG Americas Securities LLC purchased a new position in shares of Sun Country Airlines in the 3rd quarter worth about $159,000.

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.