Intercontinental Hotels Group (NYSE:IHG) Rating Lowered to Strong Sell at Zacks Research

Intercontinental Hotels Group (NYSE:IHG) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

IHG has been the topic of several other research reports. Jefferies Financial Group increased their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, May 26th. Finally, Sanford C. Bernstein increased their price objective on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.50.

Intercontinental Hotels Group Stock Down 0.5%

IHG stock opened at $161.30 on Tuesday. The business has a fifty day moving average price of $163.17 and a 200 day moving average price of $148.14. Intercontinental Hotels Group has a fifty-two week low of $113.32 and a fifty-two week high of $175.89.

Institutional Trading of Intercontinental Hotels Group

A number of hedge funds have recently modified their holdings of IHG. CCLA Investment Management acquired a new position in Intercontinental Hotels Group during the fourth quarter valued at approximately $114,306,000. Morgan Stanley raised its holdings in Intercontinental Hotels Group by 3.9% in the fourth quarter. Morgan Stanley now owns 764,049 shares of the company’s stock worth $107,601,000 after purchasing an additional 28,526 shares during the period. Goldman Sachs Group Inc. raised its holdings in Intercontinental Hotels Group by 1.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company’s stock worth $100,006,000 after purchasing an additional 9,235 shares during the period. Bank of America Corp DE boosted its position in shares of Intercontinental Hotels Group by 0.8% during the third quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock worth $60,835,000 after purchasing an additional 4,080 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of Intercontinental Hotels Group by 3.9% during the fourth quarter. Natixis Advisors LLC now owns 465,747 shares of the company’s stock worth $65,591,000 after purchasing an additional 17,503 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Hotels Group Company Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.