Intercontinental Hotels Group (NYSE:IHG) Stock Rating Upgraded by Berenberg Bank

Intercontinental Hotels Group (NYSE:IHG) was upgraded by analysts at Berenberg Bank from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on IHG. Morgan Stanley upgraded Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, October 1st. Jefferies Financial Group raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Friday, December 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research report on Friday, September 26th. Finally, Wall Street Zen cut Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Intercontinental Hotels Group Price Performance

Shares of IHG stock opened at $138.34 on Tuesday. Intercontinental Hotels Group has a 12-month low of $94.78 and a 12-month high of $144.96. The firm has a fifty day moving average of $136.58 and a 200-day moving average of $126.60.

Hedge Funds Weigh In On Intercontinental Hotels Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in IHG. Park Avenue Securities LLC acquired a new stake in shares of Intercontinental Hotels Group during the 2nd quarter valued at $250,000. JPMorgan Chase & Co. raised its position in Intercontinental Hotels Group by 125.7% in the second quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock valued at $52,113,000 after purchasing an additional 251,647 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Intercontinental Hotels Group during the second quarter valued at about $306,000. Zions Bancorporation National Association UT grew its holdings in shares of Intercontinental Hotels Group by 101.7% during the second quarter. Zions Bancorporation National Association UT now owns 7,827 shares of the company’s stock worth $903,000 after purchasing an additional 3,947 shares during the last quarter. Finally, Callan Family Office LLC increased its stake in shares of Intercontinental Hotels Group by 51.2% in the second quarter. Callan Family Office LLC now owns 9,068 shares of the company’s stock valued at $1,046,000 after buying an additional 3,071 shares during the period. Institutional investors own 15.09% of the company’s stock.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.