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

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

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

InterContinental Hotels Group Stock Performance

NYSE IHG opened at $122.77 on Friday. The stock has a market cap of $19.46 billion, a PE ratio of 24.46, a P/E/G ratio of 1.88 and a beta of 1.32. The firm has a 50-day moving average of $124.07 and a 200-day moving average of $111.56. InterContinental Hotels Group has a 52-week low of $90.90 and a 52-week high of $131.68.

Institutional Investors Weigh In On InterContinental Hotels Group

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in InterContinental Hotels Group by 40.7% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the company’s stock valued at $182,000 after buying an additional 422 shares during the period. JPMorgan Chase & Co. raised its position in InterContinental Hotels Group by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock valued at $35,388,000 after purchasing an additional 73,361 shares in the last quarter. World Investment Advisors LLC bought a new stake in InterContinental Hotels Group during the third quarter worth $86,000. Virtu Financial LLC acquired a new stake in shares of InterContinental Hotels Group in the 3rd quarter valued at $470,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of InterContinental Hotels Group in the 3rd quarter valued at $519,000. 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.