Zacks Investment Research Lowers InterContinental Hotels Group (NYSE:IHG) to Sell

Zacks Investment Research downgraded shares of InterContinental Hotels Group (NYSE:IHG) from a hold rating to a sell rating in a research report report published on Wednesday 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 research firms have also weighed in on IHG. Deutsche Bank initiated coverage on shares of InterContinental Hotels Group in a research report on Friday, October 11th. They set a hold rating for the company. Berenberg Bank lowered shares of InterContinental Hotels Group from a buy rating to a hold rating in a research report on Tuesday, August 13th. ValuEngine raised shares of InterContinental Hotels Group from a sell rating to a hold rating in a research report on Sunday, November 17th. Jefferies Financial Group initiated coverage on shares of InterContinental Hotels Group in a research report on Tuesday, September 17th. They set a buy rating for the company. Finally, JPMorgan Chase & Co. lowered shares of InterContinental Hotels Group from an overweight rating to a neutral rating in a research report on Thursday, September 12th. Five analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company has an average rating of Hold.

InterContinental Hotels Group stock opened at $65.47 on Wednesday. InterContinental Hotels Group has a fifty-two week low of $50.97 and a fifty-two week high of $71.02. The firm has a fifty day moving average price of $61.99 and a two-hundred day moving average price of $64.02.

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of InterContinental Hotels Group by 557.4% during the third quarter. Tower Research Capital LLC TRC now owns 447 shares of the company’s stock valued at $28,000 after buying an additional 379 shares during the last quarter. Private Capital Group LLC raised its position in shares of InterContinental Hotels Group by 26.6% during the second quarter. Private Capital Group LLC now owns 762 shares of the company’s stock valued at $48,000 after buying an additional 160 shares during the last quarter. KCS Wealth Advisory acquired a new position in shares of InterContinental Hotels Group during the third quarter valued at about $49,000. Quantum Capital Management acquired a new position in shares of InterContinental Hotels Group during the third quarter valued at about $110,000. Finally, Signaturefd LLC raised its position in shares of InterContinental Hotels Group by 18.0% during the second quarter. Signaturefd LLC now owns 2,231 shares of the company’s stock valued at $149,000 after buying an additional 341 shares during the last quarter. 7.05% 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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