InterContinental Hotels Group (NYSE:IHG) Rating Increased to Market Perform at Sanford C. Bernstein

InterContinental Hotels Group (NYSE:IHG) was upgraded by Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research note issued to investors on Friday, MarketBeat reports.

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

InterContinental Hotels Group Trading Down 0.7 %

Shares of IHG stock opened at $121.90 on Friday. The firm’s fifty day moving average price is $124.07 and its two-hundred day moving average price is $111.56. InterContinental Hotels Group has a 1 year low of $90.62 and a 1 year high of $131.68. The firm has a market capitalization of $19.32 billion, a P/E ratio of 24.28, a PEG ratio of 1.88 and a beta of 1.32.

Hedge Funds Weigh In On InterContinental Hotels Group

A number of institutional investors have recently bought and sold shares of the business. Assetmark Inc. lifted its position in shares of InterContinental Hotels Group by 130.9% in the third quarter. Assetmark Inc. now owns 769 shares of the company’s stock valued at $85,000 after buying an additional 436 shares during the last quarter. World Investment Advisors LLC acquired a new stake in InterContinental Hotels Group during the 3rd quarter valued at $86,000. Transamerica Financial Advisors Inc. lifted its holdings in InterContinental Hotels Group by 100,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,002 shares of the company’s stock valued at $111,000 after purchasing an additional 1,001 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of InterContinental Hotels Group by 40.7% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the company’s stock valued at $182,000 after purchasing an additional 422 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of InterContinental Hotels Group by 22.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,807 shares of the company’s stock valued at $200,000 after purchasing an additional 330 shares during the period. Institutional investors and hedge funds 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.