Intercontinental Hotels Group (NYSE:IHG) Rating Increased to Buy at Wall Street Zen

Intercontinental Hotels Group (NYSE:IHG) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Friday.

Intercontinental Hotels Group Trading Up 2.2%

Shares of IHG opened at $122.63 on Friday. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $137.25. The company has a market cap of $18.90 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.66 and a beta of 1.33. The company’s fifty day simple moving average is $117.71 and its 200 day simple moving average is $116.52.

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of institutional investors and hedge funds have recently modified their holdings of IHG. Golden State Wealth Management LLC increased its holdings in Intercontinental Hotels Group by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock worth $25,000 after acquiring an additional 114 shares during the last quarter. Brooklyn Investment Group increased its holdings in Intercontinental Hotels Group by 219.5% in the 1st quarter. Brooklyn Investment Group now owns 246 shares of the company’s stock worth $27,000 after acquiring an additional 169 shares during the last quarter. Whittier Trust Co. boosted its stake in 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 during the period. TD Private Client Wealth LLC boosted its stake in 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 during the period. Finally, Hilltop National Bank bought a new position in Intercontinental Hotels Group in the 2nd quarter worth about $41,000. 15.09% of the stock is currently owned by institutional investors.

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.