Bank of America Cuts Sabre (NASDAQ:SABR) Price Target to $3.00

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

Several other research firms have also commented on SABR. Cantor Fitzgerald began coverage on Sabre in a report on Wednesday, February 21st. They set an overweight rating and a $5.00 target price for the company. Mizuho lowered their target price on Sabre from $4.00 to $3.00 and set a neutral rating for the company in a report on Monday, March 4th. Finally, StockNews.com lowered Sabre from a buy rating to a hold rating in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $4.00.

Sabre Stock Down 1.5 %

Shares of Sabre stock opened at $2.57 on Monday. The firm has a market cap of $975.29 million, a P/E ratio of -1.63 and a beta of 1.77. Sabre has a fifty-two week low of $1.81 and a fifty-two week high of $5.76. The business has a 50-day moving average price of $2.65 and a 200 day moving average price of $3.53.

Sabre (NASDAQ:SABR) last announced its quarterly earnings data on Thursday, February 15th. The information technology services provider reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $687.05 million during the quarter, compared to analysts’ expectations of $707.89 million. As a group, equities research analysts anticipate that Sabre will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On Sabre

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings 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 buying an additional 3,563 shares in the last quarter. State of Wyoming bought a new position in Sabre in the 4th quarter worth approximately $31,000. Insigneo Advisory Services LLC bought a new position in Sabre in the 2nd quarter worth approximately $33,000. PNC Financial Services Group Inc. grew its holdings in Sabre by 69.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,344 shares of the information technology services provider’s stock worth $39,000 after buying an additional 5,041 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Sabre by 147.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,171 shares of the information technology services provider’s stock worth $44,000 after buying an additional 4,277 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

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.