Intercontinental Hotels Group (NYSE:IHG) Receives a Downgrade
Intercontinental Hotels Group (NYSE:IHG) was cut by research professionals at Berenberg from their past “Buy” rating to a “Hold” rating in recent note sent to investors and clients on Tuesday, 8 December.
From a total of 4 analysts covering Intercontinental Hotels Group (NYSE:IHG) stock, 2 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 67% of the ratings are positive. Intercontinental Hotels Group was the topic of 2 analyst reports since August 28, 2015 according to the firm StockzIntelligence Inc. Berenberg downgraded shares on December 8 to “Hold” rating.
The stock decreased 2.86% or $1.11 during the last trading session, striking $37.7. Approximately shares of stock traded hands. InterContinental Hotels Group PLC (ADR) (NYSE:IHG) has declined 10.00% since May 6, 2015 and is downtrending. It has underperformed by 9.21% the S&P500.
InterContinental Hotels Group PLC is a hotel company. The company has a market cap of $9.22 billion. The Firm franchises, leases, manages or owns over 4,800 hotels and approximately 710,000 guest rooms in nearly 100 countries. It has 17.65 P/E ratio. The Company’s portfolio of hotel brands include InterContinental Hotels & Resorts, HUALUXE Hotels and Resorts, Crowne Plaza Hotels & Resorts, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites and Kimpton Hotels & Restaurant.
According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on InterContinental Hotels Group PLC (ADR) (IHG).