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

Zacks Investment Research downgraded shares of Intercontinental Hotels Group (NYSE:IHG) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

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 issued research reports about the company. Beaufort Securities restated a buy rating on shares of Intercontinental Hotels Group in a research report on Monday, October 24th. Morgan Stanley upgraded Intercontinental Hotels Group from an underweight rating to an equal weight rating in a research report on Monday, December 12th. MKM Partners restated a neutral rating and set a $44.00 price objective (down previously from $47.00) on shares of Intercontinental Hotels Group in a research report on Monday, December 5th. Barclays PLC upgraded Intercontinental Hotels Group from an equal weight rating to an overweight rating in a research report on Tuesday, January 3rd. Finally, HSBC initiated coverage on Intercontinental Hotels Group in a research report on Monday, September 19th. They set a reduce rating for the company. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Intercontinental Hotels Group presently has a consensus rating of Hold and a consensus target price of $44.00.

Intercontinental Hotels Group (NYSE:IHG) traded up 0.24% during mid-day trading on Tuesday, reaching $45.84. The company’s stock had a trading volume of 105,134 shares. The firm has a 50 day moving average price of $43.22 and a 200-day moving average price of $41.40. The company has a market capitalization of $10.45 billion, a PE ratio of 9.30 and a beta of 1.33. Intercontinental Hotels Group has a 1-year low of $34.63 and a 1-year high of $50.53.

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Several large investors have recently made changes to their positions in the company. Aperio Group LLC raised its stake in shares of Intercontinental Hotels Group by 2.6% in the third quarter. Aperio Group LLC now owns 120,394 shares of the company’s stock worth $5,012,000 after buying an additional 3,018 shares during the period. First Trust Advisors LP bought a new stake in shares of Intercontinental Hotels Group during the second quarter worth about $609,000. CIBC World Markets Inc. bought a new stake in shares of Intercontinental Hotels Group during the second quarter worth about $266,000. World Asset Management Inc raised its stake in shares of Intercontinental Hotels Group by 8.1% in the third quarter. World Asset Management Inc now owns 13,194 shares of the company’s stock worth $549,000 after buying an additional 986 shares during the period. Finally, Investment Centers of America Inc. raised its stake in shares of Intercontinental Hotels Group by 138.6% in the second quarter. Investment Centers of America Inc. now owns 26,249 shares of the company’s stock worth $984,000 after buying an additional 15,249 shares during the period. 6.05% of the stock is currently owned by institutional investors.

About Intercontinental Hotels Group

InterContinental Hotels Group PLC is a hotel company. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s segments include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Company operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.

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