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

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

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

Sabre Trading Up 2.4 %

Shares of SABR stock opened at $2.61 on Monday. Sabre has a twelve month low of $1.81 and a twelve month high of $5.76. The stock has a market cap of $990.47 million, a price-to-earnings ratio of -1.65 and a beta of 1.77. The company’s 50-day moving average price is $2.65 and its 200-day moving average price is $3.53.

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

Hedge Funds Weigh In On Sabre

A number of hedge funds and other institutional investors have recently bought and sold shares of SABR. Captrust Financial Advisors grew its holdings in shares of Sabre by 17.9% in the second quarter. Captrust Financial Advisors now owns 13,340 shares of the information technology services provider’s stock valued at $78,000 after purchasing an additional 2,025 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Sabre by 13.4% in the second quarter. MML Investors Services LLC now owns 17,173 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 2,032 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Sabre by 0.5% during the second quarter. Alliancebernstein L.P. now owns 415,638 shares of the information technology services provider’s stock worth $1,326,000 after acquiring an additional 2,090 shares during the period. Metropolitan Life Insurance Co NY raised its stake in shares of Sabre by 11.9% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 20,165 shares of the information technology services provider’s stock valued at $125,000 after acquiring an additional 2,149 shares in the last quarter. Finally, Mariner LLC boosted its holdings in Sabre by 19.1% in the fourth quarter. Mariner LLC now owns 15,565 shares of the information technology services provider’s stock valued at $96,000 after purchasing an additional 2,498 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

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.