Intercontinental Hotels Group (LON:IHG) Downgraded by JPMorgan Chase & Co. to Underweight

JPMorgan Chase & Co. cut shares of Intercontinental Hotels Group (LON:IHG) to an underweight rating in a research report released on Thursday, Digital Look reports. The brokerage currently has GBX 4,700 ($61.41) price target on the stock, up from their previous price target of GBX 4,350 ($56.84).

Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada cut Intercontinental Hotels Group from a sector perform rating to an underperform rating in a report on Thursday, July 18th. Kepler Capital Markets reiterated a reduce rating on shares of Intercontinental Hotels Group in a report on Monday. Numis Securities reiterated a hold rating on shares of Intercontinental Hotels Group in a report on Friday, June 14th. Berenberg Bank upped their target price on Intercontinental Hotels Group from GBX 4,850 ($63.37) to GBX 5,300 ($69.25) and gave the stock a buy rating in a report on Wednesday, May 15th. Finally, Barclays reiterated an underweight rating and issued a GBX 4,400 ($57.49) target price on shares of Intercontinental Hotels Group in a report on Thursday, August 15th. Six research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Intercontinental Hotels Group currently has an average rating of Hold and a consensus price target of GBX 4,900 ($64.03).

Intercontinental Hotels Group stock traded up GBX 22 ($0.29) during mid-day trading on Thursday, hitting GBX 5,059 ($66.10). The company’s stock had a trading volume of 340,498 shares, compared to its average volume of 648,968. The company has a 50 day moving average of GBX 5,265.64 and a 200-day moving average of GBX 5,041.47. The stock has a market cap of $9.21 billion and a PE ratio of 21.92. Intercontinental Hotels Group has a one year low of GBX 4,052.63 ($52.95) and a one year high of GBX 5,770 ($75.40).

The business also recently disclosed a dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, August 29th will be paid a dividend of $0.40 per share. This represents a dividend yield of 0.63%. The ex-dividend date is Thursday, August 29th. Intercontinental Hotels Group’s dividend payout ratio (DPR) is currently 0.40%.

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.

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Analyst Recommendations for Intercontinental Hotels Group (LON:IHG)

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