Sanford C. Bernstein Upgrades InterContinental Hotels Group (NYSE:IHG) to “Market Perform”

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

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

InterContinental Hotels Group Trading Down 0.7 %

NYSE:IHG opened at $121.90 on Friday. The stock has a 50 day simple moving average of $124.07 and a 200 day simple moving average of $111.56. InterContinental Hotels Group has a 1-year low of $90.62 and a 1-year high of $131.68. The stock has a market cap of $19.32 billion, a P/E ratio of 24.28, a PEG ratio of 1.88 and a beta of 1.32.

Institutional Investors Weigh In On InterContinental Hotels Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of InterContinental Hotels Group by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock valued at $1,337,000 after buying an additional 106 shares in the last quarter. Envestnet Asset Management Inc. raised its position in InterContinental Hotels Group by 6.3% during the second quarter. Envestnet Asset Management Inc. now owns 58,321 shares of the company’s stock valued at $6,179,000 after purchasing an additional 3,431 shares in the last quarter. Capital Wealth Planning LLC raised its position in InterContinental Hotels Group by 125.2% during the second quarter. Capital Wealth Planning LLC now owns 24,257 shares of the company’s stock valued at $2,570,000 after purchasing an additional 13,487 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in InterContinental Hotels Group by 8.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 50,094 shares of the company’s stock worth $5,307,000 after purchasing an additional 4,087 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in shares of InterContinental Hotels Group by 5.4% in the 2nd quarter. Moors & Cabot Inc. now owns 4,206 shares of the company’s stock valued at $446,000 after purchasing an additional 214 shares in the last quarter. 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.