Citigroup Cuts Global Business Travel Group (NYSE:GBTG) Price Target to $9.00

Global Business Travel Group (NYSE:GBTG) had its price target reduced by Citigroup from $11.00 to $9.00 in a research note published on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Global Business Travel Group in a report on Monday, December 29th. Zacks Research upgraded Global Business Travel Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Wall Street Zen raised Global Business Travel Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Evercore lifted their price target on Global Business Travel Group from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, December 1st. Finally, BTIG Research decreased their price objective on Global Business Travel Group from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.40.

Global Business Travel Group Trading Up 1.2%

Shares of Global Business Travel Group stock opened at $5.57 on Thursday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 24.20 and a beta of 0.77. Global Business Travel Group has a 52-week low of $4.95 and a 52-week high of $8.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.14. The stock’s 50-day simple moving average is $6.37 and its 200 day simple moving average is $7.34.

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

Institutional Trading of Global Business Travel Group

A number of hedge funds and other institutional investors have recently bought and sold shares of GBTG. Redwood Capital Management LLC bought a new position in Global Business Travel Group in the 3rd quarter valued at $173,347,000. Attestor Capital Ltd purchased a new position in shares of Global Business Travel Group during the 4th quarter valued at $67,917,000. Anchorage Capital Advisors L.P. bought a new position in shares of Global Business Travel Group in the third quarter worth $58,073,000. Monarch Alternative Capital LP purchased a new stake in shares of Global Business Travel Group in the third quarter worth $57,680,000. Finally, Vanguard Group Inc. raised its position in shares of Global Business Travel Group by 24.7% in the fourth quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock worth $106,010,000 after buying an additional 2,744,068 shares in the last quarter. Institutional investors own 82.46% of the company’s stock.

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.