Intercontinental Hotels Group (NYSE:IHG) Upgraded by Morgan Stanley to “Equal Weight” Rating

Intercontinental Hotels Group (NYSE:IHG) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports.

IHG has been the subject of several other research reports. JPMorgan Chase & Co. upgraded Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research note on Friday, September 26th. Wall Street Zen raised Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Intercontinental Hotels Group Stock Up 1.5%

Shares of IHG opened at $123.24 on Wednesday. The company has a market capitalization of $18.84 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24. Intercontinental Hotels Group has a twelve month low of $94.78 and a twelve month high of $137.25. The firm has a 50 day moving average of $120.34 and a 200 day moving average of $115.52.

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC grew its position in Intercontinental Hotels Group by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock valued at $25,000 after buying an additional 114 shares during the period. Brooklyn Investment Group grew its position in shares of Intercontinental Hotels Group by 219.5% during the 1st quarter. Brooklyn Investment Group now owns 246 shares of the company’s stock valued at $27,000 after acquiring an additional 169 shares during the period. Whittier Trust Co. increased its stake in shares of Intercontinental Hotels Group by 186.3% in the 1st quarter. Whittier Trust Co. now owns 272 shares of the company’s stock worth $30,000 after purchasing an additional 177 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Intercontinental Hotels Group by 48.7% in the 1st quarter. TD Private Client Wealth LLC now owns 348 shares of the company’s stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Finally, Hilltop National Bank bought a new position in Intercontinental Hotels Group in the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Company Profile

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.