InterContinental Hotels Group (NYSE:IHG) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of InterContinental Hotels Group (NYSE:IHG) from a sell rating to a hold rating in a research report released on Thursday, 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. “

IHG has been the subject of a number of other research reports. ValuEngine raised InterContinental Hotels Group from a sell rating to a hold rating in a research report on Sunday, November 17th. JPMorgan Chase & Co. downgraded shares of InterContinental Hotels Group from an overweight rating to a neutral rating in a report on Thursday, September 12th. Deutsche Bank began coverage on shares of InterContinental Hotels Group in a report on Friday, October 11th. They set a hold rating for the company. Jefferies Financial Group began coverage on shares of InterContinental Hotels Group in a research note on Tuesday, September 17th. They issued a buy rating on the stock. Finally, Berenberg Bank downgraded shares of InterContinental Hotels Group from a buy rating to a hold rating in a report on Tuesday, August 13th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold.

Shares of IHG stock traded up $0.78 during trading on Thursday, reaching $63.49. The company had a trading volume of 42,400 shares, compared to its average volume of 137,569. The firm’s 50 day simple moving average is $61.23 and its two-hundred day simple moving average is $64.09. InterContinental Hotels Group has a one year low of $50.97 and a one year high of $71.02. The company has a market capitalization of $11.43 billion, a PE ratio of 21.96, a PEG ratio of 2.78 and a beta of 1.14.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. bought a new position in shares of InterContinental Hotels Group during the 2nd quarter worth about $20,817,000. SG Americas Securities LLC lifted its stake in shares of InterContinental Hotels Group by 1,426.7% in the third quarter. SG Americas Securities LLC now owns 32,729 shares of the company’s stock valued at $2,039,000 after buying an additional 35,196 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of InterContinental Hotels Group by 7.5% in the second quarter. Parametric Portfolio Associates LLC now owns 394,763 shares of the company’s stock valued at $26,402,000 after buying an additional 27,610 shares during the period. Barclays PLC acquired a new stake in InterContinental Hotels Group during the third quarter worth about $1,581,000. Finally, Royal Bank of Canada grew its position in InterContinental Hotels Group by 21.7% during the second quarter. Royal Bank of Canada now owns 117,565 shares of the company’s stock worth $7,863,000 after buying an additional 21,002 shares in the last quarter. Institutional investors own 7.05% of the company’s stock.

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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