Sun Country Airlines (NASDAQ:SNCY) Downgraded to “Hold” Rating by TD Cowen

TD Cowen downgraded shares of Sun Country Airlines (NASDAQ:SNCY) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Several other research firms also recently weighed in on SNCY. Citigroup lifted their target price on shares of Sun Country Airlines from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, March 20th. Wolfe Research cut shares of Sun Country Airlines from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 20th. Weiss Ratings cut shares of Sun Country Airlines from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $19.00 price target (down from $22.00) on shares of Sun Country Airlines in a research report on Tuesday, January 13th. Finally, Zacks Research cut shares of Sun Country Airlines from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.57.

Sun Country Airlines Stock Down 3.5%

Shares of NASDAQ SNCY opened at $16.42 on Monday. The company has a 50 day simple moving average of $16.87 and a 200-day simple moving average of $16.00. The company has a market capitalization of $889.96 million, a P/E ratio of 17.10, a P/E/G ratio of 0.60 and a beta of 1.40. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.83 and a quick ratio of 0.80. Sun Country Airlines has a 1 year low of $10.14 and a 1 year high of $22.29.

Hedge Funds Weigh In On Sun Country Airlines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNCY. EverSource Wealth Advisors LLC lifted its position in shares of Sun Country Airlines by 1,728.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,158 shares of the company’s stock worth $25,000 after purchasing an additional 2,040 shares during the last quarter. Parallel Advisors LLC increased its stake in Sun Country Airlines by 3,612.3% in the first quarter. Parallel Advisors LLC now owns 3,007 shares of the company’s stock valued at $50,000 after purchasing an additional 2,926 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Sun Country Airlines during the second quarter worth about $59,000. Tower Research Capital LLC TRC lifted its holdings in shares of Sun Country Airlines by 183.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,273 shares of the company’s stock valued at $62,000 after purchasing an additional 3,415 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Sun Country Airlines in the first quarter valued at about $86,000.

About Sun Country Airlines

Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.