InterContinental Hotels Group (NYSE:IHG) Lowered to Neutral at JPMorgan Chase & Co.

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JPMorgan Chase & Co. lowered shares of InterContinental Hotels Group (NYSE:IHG) from an overweight rating to a neutral rating in a research note released on Thursday morning, Briefing.com Automated Import reports.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada downgraded shares of InterContinental Hotels Group from a sector perform rating to an underperform rating in a research report on Thursday, July 18th. UBS Group downgraded shares of InterContinental Hotels Group from a neutral rating to a sell rating in a report on Tuesday, July 2nd. Berenberg Bank downgraded shares of InterContinental Hotels Group from a buy rating to a hold rating in a report on Tuesday, August 13th. Zacks Investment Research downgraded shares of InterContinental Hotels Group from a hold rating to a sell rating in a report on Saturday, August 3rd. Finally, Barclays downgraded shares of InterContinental Hotels Group from an equal weight rating to an underweight rating in a report on Tuesday, June 18th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. InterContinental Hotels Group currently has an average rating of Hold.

IHG opened at $62.61 on Thursday. InterContinental Hotels Group has a twelve month low of $50.84 and a twelve month high of $71.02. The company has a 50-day moving average price of $64.79 and a 200 day moving average price of $64.85. The company has a market cap of $11.30 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.44 and a beta of 1.14.

A number of hedge funds have recently added to or reduced their stakes in IHG. Zions Bancorporation N.A. acquired a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth approximately $37,000. Private Capital Group LLC increased its holdings in shares of InterContinental Hotels Group by 26.6% during the 2nd quarter. Private Capital Group LLC now owns 762 shares of the company’s stock worth $48,000 after buying an additional 160 shares during the last quarter. Signaturefd LLC increased its holdings in shares of InterContinental Hotels Group by 18.0% during the 2nd quarter. Signaturefd LLC now owns 2,231 shares of the company’s stock worth $149,000 after buying an additional 341 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth approximately $235,000. Finally, GYL Financial Synergies LLC acquired a new stake in shares of InterContinental Hotels Group during the 1st quarter worth approximately $237,000. Institutional investors own 8.08% of the company’s stock.

About InterContinental Hotels Group

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.

Further Reading: Why do analysts give a neutral rating?

Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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