InterContinental Hotels Group (NYSE:IHG) Downgraded by JPMorgan Chase & Co.

InterContinental Hotels Group (NYSE:IHG) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Thursday, The Fly reports.

A number of other research firms also recently commented on IHG. Berenberg Bank downgraded InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. UBS Group downgraded InterContinental Hotels Group from a “neutral” rating to a “sell” rating in a report on Tuesday, July 2nd. Royal Bank of Canada downgraded InterContinental Hotels Group from a “sector perform” rating to an “underperform” rating in a report on Thursday, July 18th. Zacks Investment Research downgraded InterContinental Hotels Group from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, Barclays downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 18th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold”.

Shares of IHG stock traded up $0.51 on Thursday, reaching $62.61. 77,682 shares of the stock were exchanged, compared to its average volume of 297,967. The stock has a market cap of $11.30 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 2.44 and a beta of 1.14. The firm has a 50 day moving average of $64.79 and a two-hundred day moving average of $64.85. InterContinental Hotels Group has a 1-year low of $50.84 and a 1-year high of $71.02.

A number of institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC boosted its position in InterContinental Hotels Group by 7.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 394,763 shares of the company’s stock worth $26,402,000 after purchasing an additional 27,610 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in InterContinental Hotels Group in the 2nd quarter valued at about $20,817,000. Northern Trust Corp boosted its position in InterContinental Hotels Group by 1.7% in the 2nd quarter. Northern Trust Corp now owns 188,837 shares of the company’s stock valued at $12,629,000 after buying an additional 3,227 shares during the last quarter. Freestone Capital Holdings LLC purchased a new position in InterContinental Hotels Group in the 1st quarter valued at about $10,089,000. Finally, Ferguson Wellman Capital Management Inc. boosted its position in InterContinental Hotels Group by 0.6% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 155,435 shares of the company’s stock valued at $10,396,000 after buying an additional 972 shares during the last quarter. 8.08% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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