Zacks Investment Research Reiterates “Buy” Rating for Sabre (SABR)
Zacks Investment Research reiterated their buy rating on shares of Sabre (NASDAQ:SABR) in a research report report published on Thursday. They currently have a $27.00 price target on the information technology services provider’s stock.
According to Zacks, “Sabre's Q3 results benefited from strong adoption of its solutions at its Travel Network and Hospitality Solutions business segments. The company has a diversified clientele, which includes online and offline travel agencies, airlines as well as hotel companies. The diverse customer base apart from adding to the top line, lowers customer concentration risk. Moreover, collaboration with Microsoft and Amazon Web Services for the cloud infrastructure of its SaaS based solutions is positive. Sabre has a wide range of solutions for the travel marketplace as well as travel and hospitality suppliers. Shares have outperformed the industry year to date. However, seasonality in the travel industry and stiff competition in the travel distribution market are headwinds. Sabre’s Travel Network segment is prone to pricing pressure from travel suppliers.”
Several other brokerages have also recently commented on SABR. BidaskClub cut shares of Sabre from a hold rating to a sell rating in a research note on Saturday, October 6th. Morgan Stanley boosted their target price on shares of Sabre from $25.00 to $26.00 and gave the stock an equal weight rating in a report on Wednesday, August 1st. ValuEngine downgraded shares of Sabre from a buy rating to a hold rating in a report on Tuesday, July 31st. Cowen set a $30.00 price target on shares of Sabre and gave the company a buy rating in a report on Thursday, July 19th. Finally, Imperial Capital reiterated a buy rating and set a $31.00 price target on shares of Sabre in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Sabre has an average rating of Buy and an average target price of $28.14.
Sabre (NASDAQ:SABR) last announced its quarterly earnings results on Tuesday, October 30th. The information technology services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. The business had revenue of $970.28 million for the quarter, compared to analysts’ expectations of $944.97 million. Sabre had a net margin of 8.76% and a return on equity of 45.54%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. As a group, equities analysts expect that Sabre will post 1.36 earnings per share for the current fiscal year.
In other news, Director Judy C. Odom sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $24.78, for a total value of $247,800.00. Following the completion of the sale, the director now owns 41,039 shares of the company’s stock, valued at approximately $1,016,946.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard A. Simonson sold 60,354 shares of the company’s stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $26.00, for a total transaction of $1,569,204.00. Following the completion of the sale, the insider now directly owns 249,941 shares of the company’s stock, valued at approximately $6,498,466. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. First Hawaiian Bank purchased a new stake in shares of Sabre in the 3rd quarter worth approximately $122,000. Cornerstone Wealth Management LLC purchased a new stake in Sabre during the third quarter valued at approximately $322,000. Russell Investments Group Ltd. purchased a new stake in Sabre during the second quarter valued at approximately $156,000. Cerebellum GP LLC purchased a new stake in Sabre during the third quarter valued at approximately $185,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Sabre during the third quarter valued at approximately $211,000.
Sabre Corporation, through its subsidiary, Sabre Holdings Corporation, provides technology solutions to the travel and tourism industry worldwide. It operates through two segments, Travel Network, and Airline and Hospitality Solutions. The Travel Network segment operates as 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.
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