InterContinental Hotels Group (NYSE:IHG) Lowered to Sell at Zacks Investment Research

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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, Zacks.com reports.

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. “

Several other equities analysts have also recently issued reports on IHG. Deutsche Bank initiated coverage on InterContinental Hotels Group in a research report on Friday, October 11th. They issued a “hold” rating on the stock. Berenberg Bank cut InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. ValuEngine upgraded InterContinental Hotels Group from a “sell” rating to a “hold” rating in a research report on Sunday, November 17th. JPMorgan Chase & Co. cut InterContinental Hotels Group from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 12th. Finally, Jefferies Financial Group initiated coverage on InterContinental Hotels Group in a research report on Tuesday, September 17th. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold”.

Shares of IHG stock opened at $63.06 on Wednesday. The stock has a market capitalization of $11.56 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. InterContinental Hotels Group has a 52-week low of $50.97 and a 52-week high of $71.02. The stock’s 50-day moving average price is $61.65 and its 200 day moving average price is $64.04.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voloridge Investment Management LLC acquired a new position in InterContinental Hotels Group during the 3rd quarter worth approximately $716,000. Barclays PLC acquired a new position in InterContinental Hotels Group during the 3rd quarter worth approximately $1,581,000. Quantum Capital Management acquired a new position in InterContinental Hotels Group during the 3rd quarter worth approximately $110,000. Parametric Portfolio Associates LLC increased its position in InterContinental Hotels Group by 2.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 403,889 shares of the company’s stock worth $25,158,000 after purchasing an additional 9,126 shares during the period. Finally, Stifel Financial Corp increased its position in InterContinental Hotels Group by 84.7% during the 3rd quarter. Stifel Financial Corp now owns 16,491 shares of the company’s stock worth $1,055,000 after purchasing an additional 7,562 shares during the period. Institutional investors own 7.05% of the company’s stock.

About InterContinental Hotels Group

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels, resorts, and restaurants under the InterContinental, KIMPTON, Hotel Indigo, EVEN HOTELS, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.

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