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

Sabre (NASDAQ:SABR) had its price objective cut by Bank of America from $4.50 to $3.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the information technology services provider’s stock. Bank of America‘s target price would suggest a potential upside of 17.65% from the stock’s current price.

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

Sabre Price Performance

SABR opened at $2.55 on Monday. Sabre has a one year low of $1.81 and a one year high of $5.76. The company’s 50 day simple moving average is $2.71 and its 200-day simple moving average is $3.55. The stock has a market capitalization of $967.70 million, a P/E ratio of -1.61 and a beta of 1.77.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Sabre by 63.4% during 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 during the period. State of Wyoming bought a new stake in shares of Sabre during the 4th quarter worth about $31,000. Insigneo Advisory Services LLC bought a new stake in shares of Sabre during the 2nd quarter worth about $33,000. PNC Financial Services Group Inc. boosted its holdings in shares of Sabre by 69.0% during 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 during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Sabre by 147.8% during 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 during the period. Institutional investors own 89.42% of the company’s stock.

About Sabre

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.