Intercontinental Hotels Group (IHG) Rating Lowered to Sell at Zacks Investment Research

Intercontinental Hotels Group (NYSE:IHG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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 research analysts have also recently issued reports about the stock. Bank of America Corporation reiterated a “buy” rating on shares of Intercontinental Hotels Group in a report on Tuesday, July 25th. BidaskClub cut shares of Intercontinental Hotels Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Credit Suisse Group cut shares of Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a report on Monday, June 19th. They noted that the move was a valuation call. Finally, Morgan Stanley cut shares of Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Thursday, June 15th. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $50.33.

Intercontinental Hotels Group (NYSE IHG) traded down 0.81% during midday trading on Wednesday, reaching $49.14. 83,350 shares of the company traded hands. The stock has a market capitalization of $9.63 billion, a P/E ratio of 22.04 and a beta of 1.36. Intercontinental Hotels Group has a 12-month low of $39.82 and a 12-month high of $57.80. The company has a 50 day moving average of $53.17 and a 200-day moving average of $53.31.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Intercontinental Hotels Group by 12.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 385,813 shares of the company’s stock valued at $21,424,000 after purchasing an additional 42,491 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Intercontinental Hotels Group during the second quarter valued at about $233,000. Gotham Asset Management LLC bought a new position in shares of Intercontinental Hotels Group during the second quarter valued at about $308,000. Goldman Sachs Group Inc. lifted its position in shares of Intercontinental Hotels Group by 9.6% during the second quarter. Goldman Sachs Group Inc. now owns 69,660 shares of the company’s stock valued at $3,868,000 after purchasing an additional 6,079 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Intercontinental Hotels Group during the second quarter valued at about $509,000. Hedge funds and other 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.

Analyst Recommendations for Intercontinental Hotels Group (NYSE:IHG)

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