Sabre (NASDAQ:SABR) Upgraded to Buy at Bank of America

Sabre (NASDAQ:SABR) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report released on Tuesday, MarketBeat.com reports. The firm presently has a $6.10 price objective on the information technology services provider’s stock, up from their prior price objective of $4.50. Bank of America‘s price objective would indicate a potential upside of 55.22% from the company’s previous close.

Several other research analysts have also recently commented on SABR. Sanford C. Bernstein reiterated an “underperform” rating and set a $3.00 price target on shares of Sabre in a report on Tuesday, November 19th. StockNews.com raised Sabre from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 price target on shares of Sabre in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.03.

Sabre Stock Down 4.8 %

Shares of SABR stock opened at $3.93 on Tuesday. The firm has a 50 day moving average of $3.58 and a two-hundred day moving average of $3.51. The stock has a market capitalization of $1.52 billion, a PE ratio of -5.46, a P/E/G ratio of 2.43 and a beta of 1.79. Sabre has a 52 week low of $1.81 and a 52 week high of $4.63.

Sabre (NASDAQ:SABR) last released its earnings results on Thursday, February 20th. The information technology services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The company had revenue of $714.72 million during the quarter, compared to analysts’ expectations of $716.60 million. Analysts expect that Sabre will post 0.04 EPS for the current fiscal year.

Institutional Trading of Sabre

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp grew its stake in Sabre by 1.0% during the 3rd quarter. State Street Corp now owns 14,018,002 shares of the information technology services provider’s stock worth $51,446,000 after buying an additional 140,218 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Sabre during the 3rd quarter worth $36,185,000. Geode Capital Management LLC grew its position in Sabre by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,081,259 shares of the information technology services provider’s stock worth $33,335,000 after purchasing an additional 145,383 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Sabre by 831.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,859,649 shares of the information technology services provider’s stock valued at $21,388,000 after purchasing an additional 5,230,239 shares during the period. Finally, U S Global Investors Inc. acquired a new position in Sabre in the fourth quarter valued at $20,509,000. Institutional investors and hedge funds 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.