Sabre (NASDAQ:SABR) Price Target Cut to $3.00 by Analysts at Bank of America

Sabre (NASDAQ:SABR) had its price target reduced by Bank of America from $4.50 to $3.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Sabre from a buy rating to a hold rating in a research report on Friday, April 5th. Mizuho reduced their target price on shares of Sabre from $4.00 to $3.00 and set a neutral rating on the stock in a research report on Monday, March 4th. Finally, Cantor Fitzgerald started coverage on shares of Sabre in a research report on Wednesday, February 21st. They issued an overweight rating and a $5.00 target price on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Sabre has an average rating of Hold and a consensus price target of $4.00.

Sabre Stock Down 2.6 %

Shares of NASDAQ SABR opened at $2.58 on Monday. Sabre has a 52 week low of $1.81 and a 52 week high of $5.76. The firm’s fifty day moving average is $2.71 and its 200 day moving average is $3.55. The company has a market cap of $979.09 million, a price-to-earnings ratio of -1.63 and a beta of 1.77.

Sabre (NASDAQ:SABR) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $687.05 million for the quarter, compared to analyst estimates of $707.89 million. Equities research analysts anticipate that Sabre will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On Sabre

A number of hedge funds have recently bought and sold shares of SABR. Tower Research Capital LLC TRC boosted its stake in Sabre by 63.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,182 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 3,563 shares in the last quarter. State of Wyoming bought a new position in Sabre during the 4th quarter valued at about $31,000. Insigneo Advisory Services LLC bought a new position in Sabre during the 2nd quarter valued at about $33,000. PNC Financial Services Group Inc. lifted its stake in Sabre by 69.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,344 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 5,041 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Sabre by 147.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,171 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 4,277 shares during the period. Institutional investors own 89.42% of the company’s stock.

Sabre Company Profile

Sabre Corporation, together with its subsidiaries, operates as software and technology company for travel industry in the United States, Europe, Asia-Pacific, and internationally. It operates through two segments: Travel Solutions and Hospitality Solutions. The Travel Solutions segment operates a business-to-business travel marketplace that offers travel content, such as inventory, prices, and availability from a range of travel suppliers, including airlines, hotels, car rental brands, rail carriers, cruise lines, and tour operators with a network of travel buyers comprising online and offline travel agencies, travel management companies, and corporate travel departments.