Intercontinental Hotels Group (NYSE:IHG) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other analysts also recently commented on the company. Zacks Investment Research upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, May 9th. Morgan Stanley downgraded Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Thursday, June 15th. Credit Suisse Group downgraded 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. Finally, Bank of America Corporation restated a “buy” rating on shares of Intercontinental Hotels Group in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $50.33.

Shares of Intercontinental Hotels Group (NYSE:IHG) traded down 0.71% on Friday, reaching $51.75. The company had a trading volume of 71,306 shares. Intercontinental Hotels Group has a 1-year low of $39.84 and a 1-year high of $57.80. The firm has a 50-day moving average price of $55.84 and a 200 day moving average price of $53.11. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 23.21 and a beta of 1.34.

TRADEMARK VIOLATION NOTICE: This piece was first reported by Daily Political and is the property of of Daily Political. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece can be read at https://www.dailypolitical.com/2017/08/11/intercontinental-hotels-group-ihg-downgraded-by-bidaskclub.html.

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth $21,249,000. Parametric Portfolio Associates LLC boosted its stake in shares of 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 period. Aperio Group LLC boosted its stake in shares of Intercontinental Hotels Group by 4.6% in the second quarter. Aperio Group LLC now owns 183,537 shares of the company’s stock worth $10,192,000 after buying an additional 8,093 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth $8,584,000. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in shares of Intercontinental Hotels Group by 16.0% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 150,842 shares of the company’s stock worth $7,381,000 after buying an additional 20,837 shares during the period. 6.93% of the stock is owned by hedge funds and other institutional investors.

About Intercontinental Hotels Group

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.

Analyst Recommendations for Intercontinental Hotels Group (NYSE:IHG)

Receive News & Ratings for Intercontinental Hotels Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Hotels Group and related companies with MarketBeat.com's FREE daily email newsletter.