InterContinental Hotels Group (IHG) Stock Rating Lowered by Raymond James

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InterContinental Hotels Group (NYSE:IHG) was downgraded by equities researchers at Raymond James from a “market perform” rating to an “underperform” rating in a note issued to investors on Tuesday, Marketbeat.com reports.

Several other brokerages have also recently issued reports on IHG. Zacks Investment Research cut InterContinental Hotels Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Citigroup cut InterContinental Hotels Group from a “neutral” rating to a “sell” rating in a report on Monday. JPMorgan Chase & Co. upgraded InterContinental Hotels Group from an “underweight” rating to a “neutral” rating in a report on Friday, June 15th. ValuEngine cut InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Bank of America cut InterContinental Hotels Group from a “buy” rating to a “neutral” rating in a report on Friday, May 11th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. InterContinental Hotels Group presently has an average rating of “Hold” and an average target price of $66.79.

Shares of IHG opened at $60.66 on Tuesday. The company has a debt-to-equity ratio of -1.67, a current ratio of 0.78 and a quick ratio of 0.78. InterContinental Hotels Group has a one year low of $49.03 and a one year high of $69.23. The company has a market cap of $11.84 billion, a P/E ratio of 24.95 and a beta of 1.34.

A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in InterContinental Hotels Group by 11.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,141 shares of the company’s stock valued at $635,000 after buying an additional 1,038 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in InterContinental Hotels Group by 7.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 27,807 shares of the company’s stock valued at $1,743,000 after buying an additional 1,956 shares in the last quarter. FMR LLC grew its holdings in InterContinental Hotels Group by 1.1% in the 2nd quarter. FMR LLC now owns 4,971,087 shares of the company’s stock valued at $311,538,000 after buying an additional 55,641 shares in the last quarter. Ferguson Wellman Capital Management Inc. purchased a new stake in InterContinental Hotels Group in the 2nd quarter valued at $9,531,000. Finally, CIBC World Markets Inc. purchased a new stake in InterContinental Hotels Group in the 2nd quarter valued at $202,000. Institutional investors own 7.19% 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, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, and Candlewood Suites brands.

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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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