Bank of America Upgrades Sabre (NASDAQ:SABR) to Buy

Sabre (NASDAQ:SABR) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat reports. The brokerage presently has a $6.10 price objective on the information technology services provider’s stock, up from their previous price objective of $4.50. Bank of America‘s price target would indicate a potential upside of 46.63% from the company’s previous close.

SABR has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of Sabre in a report on Friday, February 21st. StockNews.com raised Sabre from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Finally, Sanford C. Bernstein reissued an “underperform” rating and set a $3.00 target price on shares of Sabre in a report on Tuesday, November 19th.

Sabre Trading Up 3.0 %

SABR opened at $4.16 on Tuesday. Sabre has a 1-year low of $1.81 and a 1-year high of $4.63. The stock’s fifty day simple moving average is $3.59 and its 200 day simple moving average is $3.52. The stock has a market cap of $1.61 billion, a PE ratio of -5.78, a price-to-earnings-growth ratio of 2.43 and a beta of 1.62.

Sabre (NASDAQ:SABR) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported ($0.10) earnings per share 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 analyst estimates of $716.60 million. Equities analysts forecast that Sabre will post 0.04 earnings per share for the current year.

Institutional Trading of Sabre

Several large investors have recently modified their holdings of SABR. JPMorgan Chase & Co. boosted its stake in Sabre by 375.5% in the third quarter. JPMorgan Chase & Co. now owns 1,530,073 shares of the information technology services provider’s stock valued at $5,615,000 after buying an additional 1,208,269 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sabre by 1.6% in the third quarter. Geode Capital Management LLC now owns 9,081,259 shares of the information technology services provider’s stock valued at $33,335,000 after buying an additional 145,383 shares in the last quarter. Barclays PLC boosted its stake in Sabre by 51.6% in the third quarter. Barclays PLC now owns 786,425 shares of the information technology services provider’s stock valued at $2,885,000 after buying an additional 267,778 shares in the last quarter. Algert Global LLC boosted its stake in Sabre by 44.2% in the third quarter. Algert Global LLC now owns 438,515 shares of the information technology services provider’s stock valued at $1,609,000 after buying an additional 134,340 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Sabre by 65.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 991,631 shares of the information technology services provider’s stock valued at $3,639,000 after buying an additional 390,621 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

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.