Intercontinental Hotels Group (IHG) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Intercontinental Hotels Group (NYSE:IHG) from a sell rating to a hold rating in a research note issued to investors on Thursday.
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 also recently issued reports on IHG. Credit Suisse Group downgraded shares of Intercontinental Hotels Group from an outperform rating to a neutral rating in a report on Monday, June 19th. They noted that the move was a valuation call. Morgan Stanley downgraded shares of Intercontinental Hotels Group from an equal weight rating to an underweight rating in a report on Thursday, June 15th. Bank of America Corporation reaffirmed a buy rating on shares of Intercontinental Hotels Group in a report on Tuesday, July 25th. Finally, BidaskClub downgraded shares of Intercontinental Hotels Group from a strong-buy rating to a buy rating in a report on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $50.33.
Intercontinental Hotels Group (IHG) traded up 0.12% on Thursday, reaching $49.66. 158,141 shares of the company were exchanged. The firm has a market capitalization of $9.73 billion, a PE ratio of 22.27 and a beta of 1.34. The stock has a 50 day moving average of $54.38 and a 200 day moving average of $53.27. Intercontinental Hotels Group has a 12-month low of $39.84 and a 12-month high of $57.80.
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The company also recently disclosed a special dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, August 30th.
A number of institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in Intercontinental Hotels Group by 14.9% in the first quarter. Envestnet Asset Management Inc. now owns 58,670 shares of the company’s stock worth $2,871,000 after buying an additional 7,604 shares during the last quarter. FCA Corp TX acquired a new stake in Intercontinental Hotels Group during the first quarter worth approximately $221,000. CIBC World Markets Inc. boosted its stake in Intercontinental Hotels Group by 20.1% in the first quarter. CIBC World Markets Inc. now owns 5,662 shares of the company’s stock worth $277,000 after buying an additional 948 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in Intercontinental Hotels Group by 18.1% in the first quarter. Parametric Portfolio Associates LLC now owns 185,692 shares of the company’s stock worth $9,086,000 after buying an additional 28,513 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Intercontinental Hotels Group by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 6,694 shares of the company’s stock worth $328,000 after buying an additional 553 shares during the last quarter. 6.82% of the stock is currently owned by hedge funds and other institutional investors.
Intercontinental Hotels Group Company Profile
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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