InterContinental Hotels Group PLC (IHG) Lifted to “Hold” at Zacks Investment Research

InterContinental Hotels Group PLC (IHG) Lifted To “Hold” At Zacks Investment ResearchZacks Investment Research1 upgraded shares of InterContinental Hotels Group PLC (NYSE:IHG) from a sell rating to a hold rating in a research note released 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) traded down 2.00% during mid-day trading on Thursday, hitting $33.38.

842,907 shares of the stock were exchanged. InterContinental Hotels Group PLC has a 52-week low of $31.08 and a 52-week high of $44.72. The stock has a 50-day moving average price of $36.07 and a 200 day moving average price of $37.60. The firm has a market cap of $7.84 billion and a price-to-earnings ratio of 15.98.

IHG has been the subject of a number of other reports. Oddo & Cie raised shares of InterContinental Hotels Group PLC to a buy rating in a research note on Tuesday, October 6th. Panmure Gordon reissued a hold rating on shares of InterContinental Hotels Group PLC in a research note on Tuesday, October 20th. Berenberg Bank lowered shares of InterContinental Hotels Group PLC from a buy rating to a hold rating in a research note on Tuesday, December 8th. Citigroup Inc. lowered shares of InterContinental Hotels Group PLC from a buy rating to a neutral rating in a research note on Tuesday, January 12th. Finally, JPMorgan Chase & Co. reissued a neutral rating on shares of InterContinental Hotels Group PLC in a research note on Tuesday, November 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company.

The company currently has an average rating of Hold and a consensus target price of GBX 2,321.25 ($33.39). Several hedge funds have recently added to or reduced their stakes in IHG. World Asset Management Inc raised its stake in InterContinental Hotels Group PLC by 2.4% in the fourth quarter. World Asset Management Inc now owns 12,525 shares of the company s stock valued at $485,000 after buying an additional 288 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in InterContinental Hotels Group PLC by 4.5% in the fourth quarter. Ferguson Wellman Capital Management Inc.

now owns 177,460 shares of the company s stock valued at $6,875,000 after buying an additional 7,611 shares during the last quarter. Appleton Partners Inc. MA raised its stake in InterContinental Hotels Group PLC by 3.3% in the fourth quarter. Appleton Partners Inc. MA now owns 105,543 shares of the company s stock valued at $4,089,000 after buying an additional 3,415 shares during the last quarter. Finally, Quantitative Systematic Strategies purchased a new stake in InterContinental Hotels Group PLC during the fourth quarter 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.

Get a free copy of the Zacks research report on InterContinental Hotels Group PLC (IHG)4

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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. ^ Analyst Ratings Network’s FREE daily email newsletter (www.watchlistnews.com)

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