Global Business Travel Group (NYSE:GBTG) Coverage Initiated by Analysts at Bank of America

Bank of America began coverage on shares of Global Business Travel Group (NYSE:GBTG) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $6.50 target price on the stock.

A number of other equities research analysts have also commented on GBTG. BTIG Research dropped their price target on Global Business Travel Group from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Weiss Ratings raised Global Business Travel Group from a “sell (d)” rating to a “hold (c)” rating in a research report on Thursday, March 12th. Citigroup dropped their price target on Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Wall Street Zen lowered Global Business Travel Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, UBS Group dropped their price target on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.92.

Global Business Travel Group Trading Down 4.3%

NYSE:GBTG opened at $5.49 on Tuesday. Global Business Travel Group has a 1-year low of $4.95 and a 1-year high of $8.64. The business’s 50-day moving average price is $5.62 and its two-hundred day moving average price is $7.02. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 23.85 and a beta of 0.75.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings results on Monday, March 9th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $792.00 million for the quarter, compared to analyst estimates of $789.48 million. Global Business Travel Group had a return on equity of 6.20% and a net margin of 4.01%. On average, equities analysts expect that Global Business Travel Group will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Global Business Travel Group during the third quarter worth about $26,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Global Business Travel Group during the fourth quarter worth about $32,000. Advisory Services Network LLC bought a new position in shares of Global Business Travel Group during the third quarter worth about $61,000. CWM LLC grew its holdings in shares of Global Business Travel Group by 21.1% during the third quarter. CWM LLC now owns 7,630 shares of the company’s stock worth $62,000 after buying an additional 1,332 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Global Business Travel Group by 1,238.9% during the third quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock worth $73,000 after buying an additional 8,350 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors.

Global Business Travel Group Company Profile

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.