Sabre (NASDAQ:SABR) Stock Gets Downgrade from Zacks Research

Sabre (NASDAQ:SABR) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

A number of other equities research analysts have also issued reports on SABR. Weiss Ratings lowered shares of Sabre from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Citigroup reiterated a “buy” rating on shares of Sabre in a research note on Thursday, August 27th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $1.75.

Sabre Price Performance

Shares of SABR opened at $1.56 on Monday. Sabre has a one year low of $0.81 and a one year high of $2.50. The stock has a 50-day moving average price of $2.02 and a 200 day moving average price of $1.73.

Sabre (NASDAQ:SABR) last issued its quarterly earnings data on Thursday, August 6th. The information technology services provider reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The business had revenue of $711.96 million during the quarter, compared to analysts’ expectations of $697.40 million. On average, equities research analysts anticipate that Sabre will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On Sabre

A number of hedge funds have recently added to or reduced their stakes in SABR. BlackRock Inc. bought a new position in shares of Sabre in the 2nd quarter worth about $114,425,000. Arini Capital Management Ltd bought a new stake in shares of Sabre during the 2nd quarter valued at about $81,719,000. Discerene Group LP grew its position in shares of Sabre by 1.5% during the 1st quarter. Discerene Group LP now owns 39,093,531 shares of the information technology services provider’s stock valued at $56,686,000 after buying an additional 569,711 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Sabre during the second quarter worth about $4,184,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Sabre during the second quarter worth about $3,443,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

About Sabre

Sabre Corporation is a travel technology company that provides software, data, and marketplace services to airlines, hotels, travel agencies, corporations, and other participants in the global travel industry. Its platforms help customers search, shop, price, book, and manage travel content across air, lodging, and other travel products.

The company’s offerings include global distribution and travel marketplace capabilities, application programming interfaces, and tools such as the Sabre Red suite for travel agencies and travel sellers.