InterContinental Hotels Group (NYSE:IHG – GetRating) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Friday, 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 equities research analysts also recently weighed in on IHG. BNP Paribas raised shares in InterContinental Hotels Group from an “underperform” rating to a “neutral” rating in a research note on Friday, January 21st. Jefferies Financial Group raised shares in InterContinental Hotels Group from an “underperform” rating to a “buy” rating in a research note on Wednesday, November 24th. Exane BNP Paribas raised shares in InterContinental Hotels Group from an “underperform” rating to a “neutral” rating in a research note on Friday, January 21st. UBS Group raised their target price on shares in InterContinental Hotels Group from GBX 5,575 ($75.82) to GBX 5,675 ($77.18) in a research note on Thursday. Finally, StockNews.com Raised shares of InterContinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, InterContinental Hotels Group currently has an average rating of “Hold” and a consensus price target of $2,877.00.
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Shares of InterContinental Hotels Group stock traded up $3.12 on Friday, reaching $71.32. The stock had a trading volume of 198,614 shares, compared to its average volume of 171,553. InterContinental Hotels Group has a 1 year low of $58.74 and a 1 year high of $73.79. The business’s 50 day moving average is $67.06 and its two-hundred day moving average is $66.09.
Institutional investors have recently modified their holdings of the company. Rockefeller Capital Management LP grew its holdings in shares of InterContinental Hotels Group by 769.6% in the fourth quarter. Rockefeller Capital Management LP now owns 600 shares of the company’s stock worth $38,000 after purchasing an additional 531 shares during the last quarter. National Bank of Canada FI bought a new position in shares of InterContinental Hotels Group in the fourth quarter worth approximately $47,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of InterContinental Hotels Group in the third quarter worth approximately $67,000. AdvisorShares Investments LLC grew its holdings in shares of InterContinental Hotels Group by 25.8% in the third quarter. AdvisorShares Investments LLC now owns 1,328 shares of the company’s stock worth $85,000 after purchasing an additional 272 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its stake in InterContinental Hotels Group by 471.4% in the third quarter. Moors & Cabot Inc. now owns 20,243 shares of the company’s stock worth $95,000 after acquiring an additional 16,700 shares during the period. Hedge funds and other institutional investors own 11.60% of the company’s stock.
About InterContinental Hotels Group (GetRating)
InterContinental Hotels Group Plc owns and operates hotels. The firm’s hotel brands include: InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, EVEN Hotels, IHG Rewards Club, Kimpton and HUALUXE Hotels and Resorts. It operates through the following segments: Europe, Middle East, Asia and Africa, Americas, Greater China and Central.
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