Sun Country Airlines (NASDAQ:SNCY) Price Target Cut to $18.00 by Analysts at Barclays

Sun Country Airlines (NASDAQ:SNCY) had its target price lowered by Barclays from $24.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on SNCY. Susquehanna reduced their target price on Sun Country Airlines from $17.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday. JPMorgan Chase & Co. initiated coverage on Sun Country Airlines in a research note on Wednesday, January 22nd. They issued an “overweight” rating and a $23.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.71.

Sun Country Airlines Trading Down 7.3 %

SNCY stock opened at $9.58 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.63 and a quick ratio of 0.61. Sun Country Airlines has a 1-year low of $9.22 and a 1-year high of $18.59. The business has a 50 day simple moving average of $14.63 and a two-hundred day simple moving average of $14.21. The company has a market capitalization of $509.25 million, a price-to-earnings ratio of 10.08, a PEG ratio of 0.42 and a beta of 1.55.

Sun Country Airlines (NASDAQ:SNCY) last issued its earnings results on Tuesday, February 4th. The company reported $0.27 earnings per share for the quarter, topping 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 4.92% and a return on equity of 10.23%. Sun Country Airlines’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. Research analysts anticipate that Sun Country Airlines will post 1.92 EPS for the current fiscal year.

Insider Activity

In related news, CFO David M. Davis sold 59,389 shares of the stock in a transaction 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 sale, the chief financial officer now owns 32,260 shares in the company, valued at approximately $550,033. This represents a 64.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Grant Whitney sold 3,912 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $15.88, for a total value of $62,122.56. Following the completion of the sale, the senior vice president now owns 16,455 shares of the company’s stock, valued at approximately $261,305.40. This represents a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,369 shares of company stock valued at $3,394,302 in the last ninety days. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Sun Country Airlines

Several hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in shares of Sun Country Airlines during the fourth quarter valued at approximately $60,000. BNP Paribas Financial Markets purchased a new stake in shares of Sun Country Airlines in the fourth quarter worth approximately $74,000. Aquatic Capital Management LLC bought a new stake in shares of Sun Country Airlines during the 4th quarter worth approximately $102,000. Quarry LP boosted its holdings in Sun Country Airlines by 355.0% during the 4th quarter. Quarry LP now owns 7,894 shares of the company’s stock valued at $115,000 after acquiring an additional 6,159 shares during the period. Finally, GAMMA Investing LLC grew its position in Sun Country Airlines by 1,390.3% in the 1st quarter. GAMMA Investing LLC now owns 9,881 shares of the company’s stock valued at $122,000 after acquiring an additional 9,218 shares during the last quarter.

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.