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 note 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 equities analysts have also issued research reports about the company. Bank of America Corporation reissued a “buy” rating on shares of Intercontinental Hotels Group in a report on Tuesday, July 25th. BidaskClub downgraded shares of Intercontinental Hotels Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Credit Suisse Group downgraded shares of Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a research note on Monday, June 19th. They noted that the move was a valuation call. Finally, Morgan Stanley downgraded shares of Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 15th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Intercontinental Hotels Group currently has a consensus rating of “Hold” and a consensus target price of $50.33.
Shares of Intercontinental Hotels Group (NYSE IHG) traded up 0.42% during mid-day trading on Wednesday, reaching $49.73. The company’s stock had a trading volume of 70,082 shares. Intercontinental Hotels Group has a one year low of $39.82 and a one year high of $57.80. The stock has a 50 day moving average of $52.79 and a 200-day moving average of $53.26. The stock has a market cap of $9.45 billion, a P/E ratio of 22.30 and a beta of 1.36.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. boosted its stake in shares of Intercontinental Hotels Group by 21.6% during the second quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock worth $100,000 after buying an additional 322 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth about $207,000. FCA Corp TX acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth about $221,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Intercontinental Hotels Group during the second quarter worth about $233,000. Finally, CIBC World Markets Inc. boosted its stake in shares of Intercontinental Hotels Group by 20.1% during the first quarter. CIBC World Markets Inc. now owns 5,662 shares of the company’s stock worth $277,000 after buying an additional 948 shares during the period. Institutional investors and hedge funds own 6.70% of the company’s stock.
About Intercontinental Hotels Group
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.
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