Intercontinental Hotels Group (NYSE:IHG) Downgraded to Strong Sell Rating by Zacks Research

Intercontinental Hotels Group (NYSE:IHG) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other analysts have also commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. Jefferies Financial Group upped their price objective on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Finally, Sanford C. Bernstein boosted their price target on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.50.

Intercontinental Hotels Group Price Performance

Intercontinental Hotels Group stock opened at $161.30 on Tuesday. Intercontinental Hotels Group has a 52 week low of $113.32 and a 52 week high of $175.89. The company’s 50 day moving average price is $163.17 and its two-hundred day moving average price is $148.14.

Hedge Funds Weigh In On Intercontinental Hotels Group

Several large investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. boosted its holdings in Intercontinental Hotels Group by 178.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock worth $25,000 after buying an additional 116 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Intercontinental Hotels Group by 1,453.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock worth $28,000 after acquiring an additional 189 shares during the period. Fifth Third Bancorp grew its position in shares of Intercontinental Hotels Group by 111.0% in the fourth quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Intercontinental Hotels Group by 72.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock valued at $30,000 after purchasing an additional 91 shares during the period. Finally, Global Retirement Partners LLC raised its stake in shares of Intercontinental Hotels Group by 525.6% during the 4th quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock valued at $38,000 after purchasing an additional 226 shares during the period. Hedge funds and other institutional investors own 15.09% of the company’s stock.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.