Sabre (NASDAQ:SABR) Price Target Cut to $3.00

Sabre (NASDAQ:SABR) had its price objective trimmed by Bank of America from $4.50 to $3.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the information technology services provider’s stock.

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

Sabre Stock Performance

Sabre stock opened at $2.61 on Monday. The firm’s fifty day moving average price is $2.65 and its 200-day moving average price is $3.53. Sabre has a fifty-two week low of $1.81 and a fifty-two week high of $5.76. The stock has a market cap of $990.47 million, a P/E ratio of -1.65 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 firm had revenue of $687.05 million for the quarter, compared to the consensus estimate of $707.89 million. On average, analysts predict that Sabre will post -0.21 earnings per share for the current year.

Institutional Trading of Sabre

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in Sabre by 63.4% during the second quarter. Tower Research Capital LLC TRC now owns 9,182 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 3,563 shares during the last quarter. State of Wyoming purchased a new position in Sabre during the 4th quarter valued at approximately $31,000. Insigneo Advisory Services LLC bought a new stake in Sabre in the 2nd quarter worth approximately $33,000. PNC Financial Services Group Inc. increased its stake 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 acquiring an additional 5,041 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised 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 acquiring an additional 4,277 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

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.