InterContinental Hotels Group (NYSE:IHG) Coverage Initiated at Citigroup

Citigroup initiated coverage on shares of InterContinental Hotels Group (NYSE:IHG) in a research note issued to investors on Monday, MarketBeat reports. The brokerage issued a sell rating on the stock.

Other research analysts have also recently issued reports about the company. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Finally, Morgan Stanley lowered shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

Shares of InterContinental Hotels Group stock opened at $124.09 on Monday. The firm has a market capitalization of $19.67 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.69 and a beta of 1.32. InterContinental Hotels Group has a 52-week low of $91.57 and a 52-week high of $137.25. The company’s fifty day moving average price is $128.67 and its two-hundred day moving average price is $117.78.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in InterContinental Hotels Group by 5.8% during the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after acquiring an additional 351,723 shares during the period. Raymond James Financial Inc. bought a new position in shares of InterContinental Hotels Group in the fourth quarter worth about $13,796,000. ABC Arbitrage SA bought a new stake in shares of InterContinental Hotels Group during the fourth quarter worth $11,846,000. Arrowstreet Capital Limited Partnership grew its position in InterContinental Hotels Group by 241.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the company’s stock worth $15,965,000 after acquiring an additional 90,339 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of InterContinental Hotels Group in the third quarter valued at approximately $86,000. 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.