InterContinental Hotels Group (NYSE:IHG) Stock Rating Upgraded by Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of InterContinental Hotels Group (NYSE:IHG) from an underperform rating to a market perform rating in a research note published on Friday, Marketbeat reports.

A number of other equities analysts have also recently issued reports on IHG. The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. Morgan Stanley downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday. Finally, Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

Shares of InterContinental Hotels Group stock opened at $122.77 on Friday. The company’s 50 day moving average price is $124.07 and its two-hundred day moving average price is $111.56. The firm has a market capitalization of $19.46 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.88 and a beta of 1.32. InterContinental Hotels Group has a fifty-two week low of $90.90 and a fifty-two week high of $131.68.

Hedge Funds Weigh In On InterContinental Hotels Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in InterContinental Hotels Group by 29.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock worth $35,388,000 after purchasing an additional 73,361 shares during the last quarter. Hsbc Holdings PLC raised its stake in InterContinental Hotels Group by 133.3% during the second quarter. Hsbc Holdings PLC now owns 11,433 shares of the company’s stock worth $1,212,000 after buying an additional 6,533 shares during the last quarter. World Investment Advisors LLC acquired a new position in InterContinental Hotels Group in the third quarter valued at $86,000. Capital Wealth Planning LLC boosted its position in InterContinental Hotels Group by 125.2% during the second quarter. Capital Wealth Planning LLC now owns 24,257 shares of the company’s stock valued at $2,570,000 after acquiring an additional 13,487 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in InterContinental Hotels Group by 6.7% during the 3rd quarter. Stifel Financial Corp now owns 17,581 shares of the company’s stock worth $1,943,000 after acquiring an additional 1,107 shares during the period. 15.09% of the stock is owned by institutional investors and hedge funds.

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 under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.