Intercontinental Hotels Group (NYSE:IHG) Given Average Rating of “Hold” by Brokerages

Shares of Intercontinental Hotels Group (NYSE:IHG) have received a consensus rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company.

Several brokerages have recently issued reports on IHG. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Wednesday, October 8th. Morgan Stanley upgraded Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. upgraded Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research note on Friday, September 26th. Finally, Wall Street Zen downgraded Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Monday, October 27th.

Institutional Investors Weigh In On Intercontinental Hotels Group

Hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new position in Intercontinental Hotels Group during the 3rd quarter worth $42,374,000. JPMorgan Chase & Co. boosted its stake in shares of Intercontinental Hotels Group by 125.7% during the second quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock worth $52,113,000 after buying an additional 251,647 shares during the period. Millennium Management LLC grew its holdings in shares of Intercontinental Hotels Group by 170.5% during the first quarter. Millennium Management LLC now owns 305,177 shares of the company’s stock worth $33,444,000 after buying an additional 192,342 shares during the last quarter. Lazard Asset Management LLC raised its stake in Intercontinental Hotels Group by 98.4% during the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock valued at $41,044,000 after acquiring an additional 176,502 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Intercontinental Hotels Group by 369.2% during the 2nd quarter. Marshall Wace LLP now owns 172,622 shares of the company’s stock worth $19,910,000 after acquiring an additional 135,829 shares during the period. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Hotels Group Stock Performance

Shares of IHG stock opened at $134.18 on Monday. Intercontinental Hotels Group has a fifty-two week low of $94.78 and a fifty-two week high of $137.25. The company has a 50 day moving average price of $124.87 and a 200 day moving average price of $120.72.

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.