Intercontinental Hotels Group (NYSE:IHG) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Intercontinental Hotels Group (NYSE:IHG) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks.com reports.

Several other equities research analysts also recently commented on IHG. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. Jefferies Financial Group lifted their price target on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a report on Friday, June 26th. Finally, Sanford C. Bernstein boosted their price target on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.50.

Intercontinental Hotels Group Price Performance

Shares of IHG opened at $161.30 on Tuesday. Intercontinental Hotels Group has a 1 year low of $113.32 and a 1 year high of $175.89. The stock has a 50 day simple moving average of $163.17 and a 200-day simple moving average of $148.14.

Hedge Funds Weigh In On Intercontinental Hotels Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its holdings in shares of Intercontinental Hotels Group by 228.2% during the first quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock worth $531,000 after purchasing an additional 3,368 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Intercontinental Hotels Group by 2.5% in the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock valued at $73,310,000 after buying an additional 16,461 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Intercontinental Hotels Group by 44.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,518 shares of the company’s stock worth $290,000 after buying an additional 780 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Intercontinental Hotels Group by 42.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock worth $50,000 after buying an additional 129 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Intercontinental Hotels Group by 56.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company’s stock worth $108,000 after acquiring an additional 336 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.