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

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

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

Sabre Price Performance

Shares of NASDAQ SABR opened at $2.57 on Monday. The stock’s 50-day moving average is $2.65 and its two-hundred day moving average is $3.53. Sabre has a 1-year low of $1.81 and a 1-year high of $5.76. The company has a market cap of $975.29 million, a price-to-earnings ratio of -1.63 and a beta of 1.77.

Sabre (NASDAQ:SABR) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $707.89 million. Equities research analysts anticipate that Sabre will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State of Wyoming purchased a new position in shares of Sabre in the 4th quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. grew its stake in 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 last quarter. Tower Research Capital LLC TRC grew its stake in 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 last quarter. Robertson Stephens Wealth Management LLC purchased a new position in Sabre during the 3rd quarter worth approximately $45,000. Finally, Evergreen Capital Management LLC purchased a new position in Sabre during the 4th quarter worth approximately $62,000. Hedge funds and other 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.