InterContinental Hotels Group (NYSE:IHG) Downgraded by 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 report sent to investors on Friday 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 brokerages have also commented on IHG. Royal Bank of Canada lowered InterContinental Hotels Group from a sector perform rating to an underperform rating in a research report on Thursday, July 18th. ValuEngine lowered InterContinental Hotels Group from a hold rating to a sell rating in a research report on Thursday. Deutsche Bank assumed coverage on InterContinental Hotels Group in a research report on Friday, October 11th. They issued a hold rating for the company. Jefferies Financial Group assumed coverage on InterContinental Hotels Group in a research report on Tuesday, September 17th. They issued a buy rating for the company. Finally, JPMorgan Chase & Co. lowered InterContinental Hotels Group from an overweight rating to a neutral rating in a research report on Thursday, September 12th. Six equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. InterContinental Hotels Group presently has a consensus rating of Hold.

Shares of IHG opened at $58.45 on Friday. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.40 and a beta of 1.15. The stock has a 50 day moving average of $61.45 and a 200-day moving average of $64.84. InterContinental Hotels Group has a 52 week low of $50.84 and a 52 week high of $71.02.

Large investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC boosted its position in InterContinental Hotels Group by 8.6% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 134,914 shares of the company’s stock valued at $9,023,000 after purchasing an additional 10,705 shares during the period. A.R.T. Advisors LLC acquired a new position in InterContinental Hotels Group during the 2nd quarter valued at approximately $318,000. FDx Advisors Inc. acquired a new position in InterContinental Hotels Group during the 2nd quarter valued at approximately $287,000. 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 valued at $26,402,000 after purchasing an additional 27,610 shares during the period. Finally, Capital Bank & Trust Co boosted its position in InterContinental Hotels Group by 4.7% during the 2nd quarter. Capital Bank & Trust Co now owns 102,404 shares of the company’s stock valued at $6,889,000 after purchasing an additional 4,631 shares during the period. Institutional investors and hedge funds own 8.08% of the company’s stock.

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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