Intercontinental Hotels Group (NYSE:IHG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels. “
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Intercontinental Hotels Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Credit Suisse Group downgraded Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a research report on Monday, June 19th. They noted that the move was a valuation call. Bank of America Corporation reaffirmed a “buy” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, July 25th. Finally, Morgan Stanley cut Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 15th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Intercontinental Hotels Group currently has a consensus rating of “Hold” and a consensus price target of $44.00.
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Institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. raised its stake in Intercontinental Hotels Group by 21.6% in the second quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock valued at $100,000 after buying an additional 322 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Intercontinental Hotels Group in the first quarter valued at about $207,000. Cubist Systematic Strategies LLC purchased a new stake in Intercontinental Hotels Group in the second quarter valued at about $233,000. Gotham Asset Management LLC purchased a new stake in Intercontinental Hotels Group in the second quarter valued at about $308,000. Finally, Ameriprise Financial Inc. raised its stake in Intercontinental Hotels Group by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 6,694 shares of the company’s stock valued at $328,000 after buying an additional 553 shares during the last quarter. Institutional investors own 6.70% of the company’s stock.
Intercontinental Hotels Group Company Profile
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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