InterContinental Hotels Group (IHG) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of InterContinental Hotels Group (NYSE:IHG) from a hold rating to a sell rating in a research note issued 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. “

A number of other brokerages also recently commented on IHG. Bank of America reiterated a buy rating on shares of InterContinental Hotels Group in a research note on Monday, February 11th. Berenberg Bank upgraded shares of InterContinental Hotels Group from a hold rating to a buy rating in a research note on Thursday, January 17th. Goldman Sachs Group downgraded shares of InterContinental Hotels Group from a buy rating to a neutral rating in a research note on Thursday, January 10th. UBS Group upgraded shares of InterContinental Hotels Group from a sell rating to a neutral rating in a research note on Thursday, January 10th. Finally, Morgan Stanley downgraded shares of InterContinental Hotels Group from an equal weight rating to an underweight rating in a research note on Monday, January 7th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. InterContinental Hotels Group currently has a consensus rating of Hold and an average price target of $72.00.

Shares of IHG stock opened at $65.67 on Friday. The firm has a market cap of $11.98 billion, a P/E ratio of 22.72, a PEG ratio of 2.48 and a beta of 1.22. InterContinental Hotels Group has a 12 month low of $50.84 and a 12 month high of $67.37.

The company also recently announced a semiannual dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, March 29th will be paid a dividend of $0.781 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a dividend yield of 2.58%. This is an increase from InterContinental Hotels Group’s previous semiannual dividend of $0.64. InterContinental Hotels Group’s payout ratio is presently 52.60%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IHG. FMR LLC boosted its stake in InterContinental Hotels Group by 17.4% in the fourth quarter. FMR LLC now owns 6,848,786 shares of the company’s stock valued at $373,875,000 after acquiring an additional 1,015,599 shares in the last quarter. Ferguson Wellman Capital Management Inc. acquired a new position in InterContinental Hotels Group in the first quarter valued at $9,436,000. Morgan Stanley boosted its stake in InterContinental Hotels Group by 254.9% in the third quarter. Morgan Stanley now owns 115,847 shares of the company’s stock valued at $7,273,000 after acquiring an additional 83,204 shares in the last quarter. Two Sigma Investments LP acquired a new position in InterContinental Hotels Group in the fourth quarter valued at $2,374,000. Finally, GWM Advisors LLC acquired a new position in InterContinental Hotels Group in the fourth quarter valued at $1,672,000. Institutional investors own 7.91% 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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