Zacks Investment Research Downgrades InterContinental Hotels Group (NYSE:IHG) to Sell
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. “
IHG has been the topic of several other research reports. UBS Group set a $54.00 price target on shares of Westlake Chemical and gave the company a “sell” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada reiterated a “buy” rating and set a $2.50 price target on shares of in a research report on Thursday. Finally, Barclays cut shares of to an “underweight” rating and set a GBX 4,400 ($57.49) price target on the stock. in a research report on Tuesday, June 18th. Seven equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold”.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Inc. grew its holdings in InterContinental Hotels Group by 6.4% in the fourth quarter. Advisor Group Inc. now owns 6,141 shares of the company’s stock worth $336,000 after purchasing an additional 367 shares during the period. Zions Bancorporation N.A. purchased a new stake in InterContinental Hotels Group in the second quarter worth about $37,000. Bank of New York Mellon Corp grew its holdings in InterContinental Hotels Group by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 14,262 shares of the company’s stock worth $778,000 after purchasing an additional 620 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in InterContinental Hotels Group by 0.6% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 155,435 shares of the company’s stock worth $10,396,000 after purchasing an additional 972 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in InterContinental Hotels Group by 3.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 50,695 shares of the company’s stock worth $2,767,000 after purchasing an additional 1,517 shares during the period. Institutional investors and hedge funds own 7.85% 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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