Zacks Investment Research Lowers InterContinental Hotels Group (NYSE:IHG) to Sell

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Zacks Investment Research downgraded shares of InterContinental Hotels Group (NYSE:IHG) from a hold rating to a sell rating in a research report released on Wednesday 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. “

Other equities research analysts have also recently issued research reports about the company. Barclays cut to an underweight rating and set a GBX 4,400 ($57.49) price objective for the company. in a report on Tuesday, June 18th. UBS Group set a $54.00 price objective on Westlake Chemical and gave the stock a sell rating in a report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold.

Shares of NYSE:IHG opened at $68.93 on Wednesday. InterContinental Hotels Group has a 12-month low of $50.84 and a 12-month high of $69.03. The company has a market capitalization of $12.46 billion, a PE ratio of 23.85, a PEG ratio of 2.58 and a beta of 1.08. The stock’s 50 day moving average price is $66.77.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. raised its position in shares of InterContinental Hotels Group by 6.4% in the fourth quarter. Advisor Group Inc. now owns 6,141 shares of the company’s stock valued at $336,000 after buying an additional 367 shares in the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of InterContinental Hotels Group in the second quarter valued at approximately $37,000. Bank of New York Mellon Corp raised its position in shares of InterContinental Hotels Group by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 14,262 shares of the company’s stock valued at $778,000 after buying an additional 620 shares in the last quarter. NumerixS Investment Technologies Inc raised its position in shares of InterContinental Hotels Group by 1,100.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the company’s stock valued at $64,000 after buying an additional 1,100 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its position in shares of InterContinental Hotels Group by 3.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 50,695 shares of the company’s stock valued at $2,767,000 after buying an additional 1,517 shares in the last quarter. Institutional investors own 7.85% 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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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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