Zacks Investment Research cut shares of Intercontinental Hotels Group (NYSE:IHG) from a hold rating to a sell rating in a research note released on Wednesday, September 6th.
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. “
IHG has been the subject of a number of other research reports. Bank of America Corporation reiterated a buy rating on shares of Intercontinental Hotels Group in a research note on Tuesday, July 25th. BidaskClub downgraded shares of Intercontinental Hotels Group from a hold rating to a sell rating in a research note on Friday, August 25th. 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. Finally, Credit Suisse Group downgraded shares of Intercontinental Hotels Group from an outperform rating to a neutral rating in a research report on Monday, June 19th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $50.33.
Intercontinental Hotels Group (NYSE:IHG) traded down 0.86% on Wednesday, hitting $49.85. 157,256 shares of the stock traded hands. The company’s 50 day moving average price is $51.88 and its 200-day moving average price is $53.28. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 22.35 and a beta of 1.36. Intercontinental Hotels Group has a 52-week low of $39.84 and a 52-week high of $57.80.
WARNING: This piece was originally published by BBNS and is owned by of BBNS. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://baseballnewssource.com/markets/intercontinental-hotels-group-ihg-downgraded-to-sell-at-zacks-investment-research/1617076.html.
The company also recently disclosed a special dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, August 30th.
A number of institutional investors and hedge funds have recently made changes to their positions in IHG. Jane Street Group LLC acquired a new position in Intercontinental Hotels Group in the 1st quarter valued at $21,249,000. Karp Capital Management Corp acquired a new position in Intercontinental Hotels Group in the 1st quarter valued at $8,584,000. Freestone Capital Holdings LLC acquired a new position in shares of Intercontinental Hotels Group during the 2nd quarter worth $8,207,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Intercontinental Hotels Group by 12.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 385,813 shares of the company’s stock worth $21,424,000 after purchasing an additional 42,491 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Intercontinental Hotels Group by 18.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 185,692 shares of the company’s stock worth $9,086,000 after purchasing an additional 28,513 shares during the period. 6.70% of the stock is currently owned by institutional investors.
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 our FREE daily email newsletter.