InterContinental Hotels Group (NYSE: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 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. “

Several other analysts have also weighed in on IHG. UBS Group set a $54.00 price objective on shares of Westlake Chemical and gave the stock a sell rating in a report on Tuesday, July 2nd. Barclays lowered shares of to an underweight rating and set a GBX 4,400 ($57.49) price objective for the company. in a report on Tuesday, June 18th. Six research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. InterContinental Hotels Group has a consensus rating of Hold.

Shares of NYSE IHG traded down $0.08 during mid-day trading on Wednesday, hitting $68.44. 54,300 shares of the stock were exchanged, compared to its average volume of 98,188. The firm has a market cap of $12.26 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.57 and a beta of 1.08. The firm’s fifty day moving average price is $66.70. InterContinental Hotels Group has a twelve month low of $50.84 and a twelve month high of $68.73.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of InterContinental Hotels Group by 17.4% during the fourth quarter. FMR LLC now owns 6,848,786 shares of the company’s stock valued at $373,875,000 after purchasing an additional 1,015,599 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of InterContinental Hotels Group by 3.5% during the first quarter. Parametric Portfolio Associates LLC now owns 367,153 shares of the company’s stock valued at $22,429,000 after purchasing an additional 12,475 shares during the last quarter. Freestone Capital Holdings LLC bought a new stake in shares of InterContinental Hotels Group during the first quarter valued at approximately $10,089,000. Ferguson Wellman Capital Management Inc. bought a new stake in shares of InterContinental Hotels Group during the first quarter valued at approximately $9,436,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of InterContinental Hotels Group by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 145,600 shares of the company’s stock valued at $7,948,000 after purchasing an additional 3,373 shares during the last quarter. 7.85% of the stock is currently owned by institutional investors and hedge funds.

About InterContinental Hotels Group

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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