Sabre (NASDAQ:SABR) Rating Increased to Market Perform at Sanford C. Bernstein

Sabre (NASDAQ:SABR) was upgraded by Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research note issued on Tuesday, MarketBeat reports. The firm presently has a $3.50 target price on the information technology services provider’s stock. Sanford C. Bernstein’s price objective suggests a potential upside of 24.56% from the company’s current price.

A number of other equities research analysts have also recently weighed in on SABR. Cantor Fitzgerald reiterated a “neutral” rating and issued a $4.00 price objective on shares of Sabre in a research note on Friday, February 21st. StockNews.com upgraded Sabre from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Finally, Bank of America raised shares of Sabre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $4.50 to $6.10 in a research note on Tuesday, March 4th.

Sabre Stock Down 8.2 %

NASDAQ SABR opened at $2.81 on Tuesday. Sabre has a 52 week low of $2.29 and a 52 week high of $4.63. The firm has a 50 day moving average of $3.57 and a two-hundred day moving average of $3.58. The stock has a market capitalization of $1.08 billion, a PE ratio of -3.90, a price-to-earnings-growth ratio of 2.43 and a beta of 1.62.

Sabre (NASDAQ:SABR) last posted its earnings results on Thursday, February 20th. The information technology services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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. On average, equities research analysts expect that Sabre will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sabre

Several institutional investors and hedge funds have recently made changes to their positions in SABR. Sterling Capital Management LLC boosted its stake in Sabre by 744.8% in the 4th quarter. Sterling Capital Management LLC now owns 9,589 shares of the information technology services provider’s stock worth $35,000 after buying an additional 8,454 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Sabre by 173.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,935 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 6,298 shares in the last quarter. Zacks Investment Management purchased a new position in Sabre in the third quarter valued at about $41,000. MML Investors Services LLC purchased a new position in Sabre in the third quarter valued at about $45,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Sabre during the fourth quarter worth about $45,000. 89.42% of the stock is currently owned by hedge funds and other 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.