Sabre (NASDAQ:SABR) Price Target Cut to $3.00 by Analysts at Bank of America

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

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

Sabre Price Performance

Shares of SABR opened at $2.58 on Monday. The company has a market capitalization of $979.09 million, a PE ratio of -1.63 and a beta of 1.77. Sabre has a one year low of $1.81 and a one year high of $5.76. The company’s fifty day moving average price is $2.71 and its 200 day moving average price is $3.55.

Sabre (NASDAQ:SABR) last announced its earnings results on Thursday, February 15th. The information technology services provider reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $687.05 million for the quarter, compared to analysts’ expectations of $707.89 million. Analysts anticipate that Sabre will post -0.21 earnings per share 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. Apollo Management Holdings L.P. bought a new position in Sabre in the first quarter valued at approximately $61,780,000. Deutsche Bank AG raised its holdings in Sabre by 2,645.0% in the first quarter. Deutsche Bank AG now owns 4,240,732 shares of the information technology services provider’s stock worth $18,193,000 after purchasing an additional 4,086,244 shares during the period. Vanguard Group Inc. raised its holdings in Sabre by 10.1% in the third quarter. Vanguard Group Inc. now owns 39,911,130 shares of the information technology services provider’s stock worth $179,201,000 after purchasing an additional 3,665,465 shares during the period. Morgan Stanley raised its holdings in Sabre by 139.3% in the fourth quarter. Morgan Stanley now owns 5,045,079 shares of the information technology services provider’s stock worth $31,179,000 after purchasing an additional 2,936,382 shares during the period. Finally, Marshall Wace LLP raised its holdings in Sabre by 523.7% in the second quarter. Marshall Wace LLP now owns 3,487,290 shares of the information technology services provider’s stock worth $11,124,000 after purchasing an additional 2,928,138 shares during the period. 89.42% of the stock is owned by institutional investors.

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.