InterContinental Hotels Group (NYSE:IHG) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of InterContinental Hotels Group (NYSE:IHG) from a hold rating to a sell rating in a research report sent 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. “

Several other equities analysts have also commented on the stock. Barclays lowered shares of to an underweight rating and set a GBX 4,400 ($57.49) price target on the stock. in a research note on Tuesday, June 18th. UBS Group set a $54.00 price target on shares of Westlake Chemical and gave the company a sell rating in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada reiterated a buy rating and issued a $2.50 price target on shares of in a research note on Thursday. Seven research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. InterContinental Hotels Group currently has a consensus rating of Hold.

Shares of InterContinental Hotels Group stock opened at $69.56 on Friday. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 2.62 and a beta of 1.08. InterContinental Hotels Group has a 52 week low of $50.84 and a 52 week high of $70.35. The company has a 50 day moving average of $67.34.

Hedge funds have recently bought and sold shares of the company. Zions Bancorporation N.A. acquired a new stake in shares of InterContinental Hotels Group in the second quarter valued at approximately $37,000. Quadrant Capital Group LLC acquired a new stake in shares of InterContinental Hotels Group in the first quarter valued at approximately $210,000. GYL Financial Synergies LLC acquired a new stake in shares of InterContinental Hotels Group in the first quarter valued at approximately $237,000. Financial Gravity Wealth Inc. acquired a new stake in shares of InterContinental Hotels Group in the first quarter valued at approximately $285,000. Finally, FDx Advisors Inc. acquired a new stake in shares of InterContinental Hotels Group in the second quarter valued at approximately $287,000. 7.85% of the stock is owned by institutional investors and hedge funds.

InterContinental Hotels Group Company Profile

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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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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