Zacks Research Downgrades Sabre (NASDAQ:SABR) to Strong Sell

Sabre (NASDAQ:SABR) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on SABR. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sabre in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Sabre from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $3.80.

Sabre Price Performance

SABR stock traded up $0.03 during midday trading on Tuesday, hitting $1.26. The company’s stock had a trading volume of 857,039 shares, compared to its average volume of 4,615,261. Sabre has a twelve month low of $1.20 and a twelve month high of $4.63. The company’s fifty day moving average price is $1.54 and its 200 day moving average price is $2.00. The stock has a market capitalization of $495.58 million, a P/E ratio of 1.02 and a beta of 1.07.

Sabre (NASDAQ:SABR) last posted its quarterly earnings data on Wednesday, November 5th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). The firm had revenue of $715.18 million for the quarter, compared to the consensus estimate of $715.32 million. Sabre’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. Equities analysts expect that Sabre will post 0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Sabre

Several institutional investors and hedge funds have recently modified their holdings of SABR. SG Americas Securities LLC boosted its stake in shares of Sabre by 176.3% in the fourth quarter. SG Americas Securities LLC now owns 182,028 shares of the information technology services provider’s stock valued at $248,000 after buying an additional 116,159 shares during the period. Saranac Partners Ltd acquired a new position in Sabre in the 3rd quarter valued at $183,000. CIBC Bancorp USA Inc. bought a new stake in shares of Sabre during the 3rd quarter valued at $71,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Sabre by 970.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 24,665 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 22,361 shares in the last quarter. Finally, Quantessence Capital LLC acquired a new stake in shares of Sabre during the 3rd quarter worth $88,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

About Sabre

Sabre Corporation is a leading travel technology company that provides software, data, mobile and distribution solutions to the global travel industry. Through its Sabre travel marketplace, the company operates one of the world’s principal global distribution systems (GDS), connecting travel buyers and suppliers across airlines, hotels, car rental companies and other travel providers. Sabre’s suite of products includes reservation and ticketing systems for travel agencies, comprehensive airline operations and passenger services solutions, as well as hospitality property management and central reservation systems for hotels.

Established in 1960 as a joint venture between American Airlines and IBM, Sabre introduced one of the first computerized airline reservation systems, pioneering the automation of ticketing and inventory control.