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

Global Business Travel Group (NYSE:GBTG) had its price objective decreased by equities research analysts at Citigroup from $11.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 63.19% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. BTIG Research decreased their price target on Global Business Travel Group from $10.00 to $9.00 and set a “buy” rating for the company in a report on Monday. UBS Group cut their price objective on shares of Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday. Wall Street Zen upgraded shares of Global Business Travel Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research raised shares of Global Business Travel Group from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Finally, Evercore increased their price target on shares of Global Business Travel Group from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, December 1st. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.40.

Global Business Travel Group Stock Performance

Shares of NYSE GBTG traded down $0.06 during midday trading on Thursday, reaching $5.52. 653,049 shares of the company were exchanged, compared to its average volume of 1,606,154. The stock has a market cap of $2.89 billion, a P/E ratio of 24.02 and a beta of 0.77. Global Business Travel Group has a 1 year low of $4.95 and a 1 year high of $8.64. The stock has a fifty day simple moving average of $6.45 and a 200 day simple moving average of $7.38. The company has a current ratio of 1.14, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings data on Monday, March 9th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. Global Business Travel Group had a return on equity of 6.20% and a net margin of 4.01%.The firm had revenue of $792.00 million during the quarter, compared to the consensus estimate of $789.48 million. On average, research analysts forecast that Global Business Travel Group will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Global Business Travel Group

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

About Global Business Travel Group

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.