Sun Country Airlines (NASDAQ:SNCY) Hits New 1-Year High Following Earnings Beat

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report) shares hit a new 52-week high on Tuesday following a better than expected earnings announcement. The stock 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.06. The company had revenue of $260.40 million for the quarter, compared to the consensus estimate of $258.04 million. Sun Country Airlines had a return on equity of 9.00% and a net margin of 4.25%. Sun Country Airlines's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 EPS.

Wall Street Analysts Forecast Growth

SNCY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on Sun Country Airlines in a report on Wednesday, January 22nd. They set an "overweight" rating and a $23.00 price target on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $17.00 target price on shares of Sun Country Airlines in a research report on Friday, November 15th. Wolfe Research raised 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. Susquehanna increased their target price on Sun Country Airlines from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Finally, Barclays boosted their price target on shares of Sun Country Airlines from $20.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.29.

Insider Activity at Sun Country Airlines

In related news, SVP Erin Rose Neale sold 1,738 shares of Sun Country Airlines stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $14.88, for a total value of $25,861.44. Following the sale, the senior vice president now directly owns 30,142 shares in the company, valued at $448,512.96. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Davis sold 59,389 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $17.05, for a total value of $1,012,582.45. Following the completion of the sale, the chief financial officer now directly owns 32,260 shares of the company's stock, valued at approximately $550,033. This trade represents a 64.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242,279 shares of company stock worth $4,031,056. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sun Country Airlines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. U S Global Investors Inc. grew its holdings in shares of Sun Country Airlines by 14.2% during the third quarter. U S Global Investors Inc. now owns 2,705,789 shares of the company's stock worth $30,332,000 after buying an additional 336,086 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Sun Country Airlines in the fourth quarter worth approximately $30,841,000. State Street Corp grew its holdings in Sun Country Airlines by 3.3% in the third quarter. State Street Corp now owns 1,580,834 shares of the company's stock valued at $17,721,000 after purchasing an additional 51,224 shares during the period. FMR LLC raised its stake in Sun Country Airlines by 19.0% during the third quarter. FMR LLC now owns 717,341 shares of the company's stock worth $8,041,000 after purchasing an additional 114,687 shares during the period. Finally, Weiss Asset Management LP raised its stake in Sun Country Airlines by 7.0% during the third quarter. Weiss Asset Management LP now owns 577,337 shares of the company's stock worth $6,472,000 after purchasing an additional 37,689 shares during the period.

Sun Country Airlines Stock Performance

The company has a market cap of $831.69 million, a price-to-earnings ratio of 19.40, 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 simple moving average is $15.41 and its two-hundred day simple moving average is $13.09.

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.