InterContinental Hotels Group (NYSE:IHG) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of InterContinental Hotels Group (NYSE:IHG) from a hold rating to a sell rating in a research note published on Friday morning, 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. “

IHG has been the topic of a number of other reports. JPMorgan Chase & Co. downgraded shares of InterContinental Hotels Group from an overweight rating to a neutral rating in a research note on Thursday, September 12th. Berenberg Bank downgraded shares of InterContinental Hotels Group from a buy rating to a hold rating in a research note on Tuesday, August 13th. Royal Bank of Canada downgraded shares of InterContinental Hotels Group from a sector perform rating to an underperform rating in a research note on Thursday, July 18th. Deutsche Bank started coverage on shares of InterContinental Hotels Group in a research note on Friday, October 11th. They set a hold rating on the stock. Finally, ValuEngine downgraded shares of InterContinental Hotels Group from a hold rating to a sell rating in a research note on Thursday. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. InterContinental Hotels Group presently has a consensus rating of Hold.

InterContinental Hotels Group stock traded down $2.06 during trading hours on Friday, reaching $58.45. 228,394 shares of the stock were exchanged, compared to its average volume of 143,398. InterContinental Hotels Group has a twelve month low of $50.84 and a twelve month high of $71.02. The stock has a 50 day moving average of $61.45 and a two-hundred day moving average of $64.84.

A number of institutional investors have recently made changes to their positions in IHG. CIBC Private Wealth Group LLC lifted its holdings in shares of InterContinental Hotels Group by 8.6% in the second quarter. CIBC Private Wealth Group LLC now owns 134,914 shares of the company’s stock worth $9,023,000 after acquiring an additional 10,705 shares during the last quarter. A.R.T. Advisors LLC bought a new position in shares of InterContinental Hotels Group in the second quarter worth about $318,000. FDx Advisors Inc. bought a new position in shares of InterContinental Hotels Group in the second quarter worth about $287,000. Parametric Portfolio Associates LLC lifted its holdings in shares of InterContinental Hotels Group by 7.5% in the second quarter. Parametric Portfolio Associates LLC now owns 394,763 shares of the company’s stock worth $26,402,000 after acquiring an additional 27,610 shares during the last quarter. Finally, Capital Bank & Trust Co lifted its holdings in shares of InterContinental Hotels Group by 4.7% in the second quarter. Capital Bank & Trust Co now owns 102,404 shares of the company’s stock worth $6,889,000 after acquiring an additional 4,631 shares during the last quarter. Hedge funds and other institutional investors own 8.08% of the company’s stock.

InterContinental Hotels Group Company Profile

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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