Sun Country Airlines (NASDAQ:SNCY) Shares Up 6.5% - Still a Buy?

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report) shot up 6.5% during trading on Wednesday . The stock traded as high as $10.50 and last traded at $10.20. 71,795 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 739,143 shares. The stock had previously closed at $9.58.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Susquehanna dropped their price target on shares of Sun Country Airlines from $17.00 to $11.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. assumed coverage on Sun Country Airlines in a research report on Wednesday, January 22nd. They issued an "overweight" rating and a $23.00 target price on the stock. Finally, Barclays cut their target price on Sun Country Airlines from $24.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.71.

Sun Country Airlines Stock Down 6.5 %

The firm has a market cap of $514.57 million, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 0.42 and a beta of 1.55. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.86. The stock's 50 day moving average is $14.18 and its 200 day moving average is $14.21.

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Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $260.40 million for the quarter, compared to analysts' expectations of $258.04 million. Sun Country Airlines had a return on equity of 10.23% and a net margin of 4.92%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS. Analysts forecast that Sun Country Airlines Holdings, Inc. will post 1.92 EPS for the current year.

Insiders Place Their Bets

In related news, CFO David M. Davis sold 59,380 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $16.91, for a total value of $1,004,115.80. Following the sale, the chief financial officer now directly owns 32,260 shares in the company, valued at $545,516.60. The trade was a 64.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jude Bricker sold 2,172 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $12.02, for a total transaction of $26,107.44. Following the sale, the chief executive officer now owns 127,589 shares of the company's stock, valued at $1,533,619.78. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,415 shares of company stock worth $3,139,352. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sun Country Airlines

A number of hedge funds have recently modified their holdings of SNCY. Canada Pension Plan Investment Board acquired a new position in shares of Sun Country Airlines in the 4th quarter valued at $60,000. BNP Paribas Financial Markets purchased a new stake in Sun Country Airlines during the fourth quarter valued at about $74,000. Aquatic Capital Management LLC acquired a new position in shares of Sun Country Airlines in the fourth quarter worth about $102,000. Quarry LP boosted its holdings in shares of Sun Country Airlines by 355.0% in the fourth quarter. Quarry LP now owns 7,894 shares of the company's stock worth $115,000 after buying an additional 6,159 shares during the period. Finally, State of Wyoming increased its position in shares of Sun Country Airlines by 102.7% in the fourth quarter. State of Wyoming now owns 8,411 shares of the company's stock worth $123,000 after acquiring an additional 4,262 shares in 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.