InterContinental Hotels Group PLC (IHG) Cut to “Sell” at Zacks Investment Research

InterContinental Hotels Group PLC (IHG) Cut To “Sell” At Zacks Investment ResearchZacks Investment Research1 downgraded shares of InterContinental Hotels Group PLC (NYSE:IHG) from a hold rating to a sell rating in a research note published on Thursday morning, Market Beat.com2 reports.

According to Zacks, InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Discount Holidays © Holiday Inn hotels, Discount Holidays © Holiday Inn Express hotels, and Staybridge Suites by Discount Holidays © Holiday Inn hotels. Shares of InterContinental Hotels Group PLC (NYSE:IHG3) opened at 31.91 on Thursday. The firm has a 50-day moving average price of $37.73 and a 200-day moving average price of $38.21. InterContinental Hotels Group PLC has a 1-year low of $31.82 and a 1-year high of $44.72. The company has a market cap of $7.50 billion and a P/E ratio of 15.28.

A number of other brokerages have also weighed in on IHG. JPMorgan Chase & Co. reissued a neutral rating on shares of InterContinental Hotels Group PLC in a report on Tuesday, November 17th. Panmure Gordon reaffirmed a hold rating on shares of InterContinental Hotels Group PLC in a report on Tuesday, October 20th. Citigroup Inc. lowered InterContinental Hotels Group PLC from a buy rating to a neutral rating in a report on Tuesday, January 12th. Berenberg Bank lowered InterContinental Hotels Group PLC from a buy rating to a hold rating in a report on Tuesday, December 8th. Finally, MKM Partners reaffirmed a buy rating and set a $50.00 target price on shares of InterContinental Hotels Group PLC in a report on Wednesday, September 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company.

The stock has a consensus rating of Hold and a consensus price target of GBX 2,321.25 ($33.12). An institutional investor recently bought a new position in InterContinental Hotels Group PLC stock. Quantitative Systematic Strategies bought a new stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The hedge fund bought 7,745 shares of the company s stock, valued at approximately $303,000. InterContinental Hotels Group PLC is a hotel company.

The Company franchises, leases, manages or owns over 4,800 hotels and approximately 710,000 guest rooms in nearly 100 countries. The Company s portfolio of hotel brands include InterContinental Hotels & Resorts, HUALUXE Hotels and Resorts, Crowne Plaza Hotels & Resorts, Hotel Indigo, EVEN Hotels, Discount Holidays © Holiday Inn, Discount Holidays © Holiday Inn Express, Staybridge Suites, Candlewood Suites and Kimpton Hotels & Restaurant. The Company operates through four geographical regions: Americas, Europe, Asia, Middle East and Africa, and Greater China.

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References

  1. ^ Zacks Investment Research (www.zacks.com)
  2. ^ Market Beat.com (www.marketbeat.com)
  3. ^ NYSE:IHG (www.marketbeat.com)
  4. ^ Get a free copy of the Zacks research report on InterContinental Hotels Group PLC (IHG) (www.zacks.com)
  5. ^ Zacks.com (www.zacks.com)
  6. ^ MarketBeat.com’s FREE daily email newsletter (www.mideasttime.com)

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