InterContinental Hotels Group PLC (NYSE:IHG)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $53.16 and last traded at $53.68, with a volume of 8742 shares. The stock had previously closed at $55.37.
A number of research firms recently issued reports on IHG. Zacks Investment Research downgraded shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Thursday, July 5th. Citigroup downgraded shares of InterContinental Hotels Group from a “neutral” rating to a “sell” rating in a report on Monday, September 3rd. Finally, Raymond James downgraded shares of InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, September 4th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $66.79.
The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of -1.67. The firm has a market capitalization of $10.65 billion, a PE ratio of 22.15 and a beta of 1.33.
A number of large investors have recently modified their holdings of IHG. Wells Fargo & Company MN lifted its holdings in InterContinental Hotels Group by 1,083.2% during the first quarter. Wells Fargo & Company MN now owns 89,759 shares of the company’s stock valued at $5,494,000 after purchasing an additional 82,173 shares in the last quarter. Sei Investments Co. lifted its holdings in InterContinental Hotels Group by 576.5% during the first quarter. Sei Investments Co. now owns 5,304 shares of the company’s stock valued at $325,000 after purchasing an additional 4,520 shares in the last quarter. Stifel Financial Corp lifted its holdings in InterContinental Hotels Group by 109.5% during the first quarter. Stifel Financial Corp now owns 8,180 shares of the company’s stock valued at $511,000 after purchasing an additional 4,275 shares in the last quarter. UBS Group AG lifted its holdings in InterContinental Hotels Group by 238.8% during the first quarter. UBS Group AG now owns 2,175 shares of the company’s stock valued at $133,000 after purchasing an additional 1,533 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in InterContinental Hotels Group during the first quarter valued at approximately $604,000. 7.18% of the stock is currently owned by institutional investors and hedge funds.
About InterContinental Hotels Group (NYSE:IHG)
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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