Zacks Investment Research lowered shares of Intercontinental Hotels Group (NYSE:IHG) from a hold rating to a sell rating in a research note published on Tuesday morning.
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 research analysts have also recently issued reports on IHG. BidaskClub cut shares of Intercontinental Hotels Group from a strong-buy rating to a buy rating in a report on Tuesday, June 13th. Morgan Stanley cut shares of Intercontinental Hotels Group from an equal weight rating to an underweight rating in a report on Thursday, June 15th. Credit Suisse Group cut shares of Intercontinental Hotels Group from an outperform rating to a neutral rating in a report on Monday, June 19th. They noted that the move was a valuation call. Finally, Bank of America Corporation restated a buy rating on shares of Intercontinental Hotels Group in a report on Tuesday, July 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Intercontinental Hotels Group presently has an average rating of Hold and a consensus price target of $50.33.
Intercontinental Hotels Group (NYSE IHG) opened at 50.52 on Tuesday. The stock has a market cap of $9.90 billion, a PE ratio of 22.65 and a beta of 1.34. Intercontinental Hotels Group has a one year low of $39.82 and a one year high of $57.80. The company’s 50 day moving average is $55.10 and its 200 day moving average is $53.22.
TRADEMARK VIOLATION WARNING: “Intercontinental Hotels Group (IHG) Lowered to Sell at Zacks Investment Research” was first reported by BNB Daily and is the property of of BNB Daily. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.baseball-news-blog.com/2017/08/19/intercontinental-hotels-group-ihg-lowered-to-sell-at-zacks-investment-research.html.
The firm also recently declared a special dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, August 30th.
Hedge funds have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth $21,249,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Intercontinental Hotels Group by 12.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 385,813 shares of the company’s stock worth $21,424,000 after buying an additional 42,491 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Intercontinental Hotels Group by 10.1% in the second quarter. Parametric Portfolio Associates LLC now owns 204,460 shares of the company’s stock worth $11,354,000 after buying an additional 18,768 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Intercontinental Hotels Group by 4.6% in the second quarter. Aperio Group LLC now owns 183,537 shares of the company’s stock worth $10,192,000 after buying an additional 8,093 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth $8,584,000. Hedge funds and other institutional investors own 6.82% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intercontinental Hotels Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Hotels Group and related companies with MarketBeat.com's FREE daily email newsletter.