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

InterContinental Hotels Group (NYSE:IHG) was upgraded by equities research analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research note issued on Friday, MarketBeat.com reports.

Other equities analysts have also recently issued reports about the stock. Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday. Finally, The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

InterContinental Hotels Group Trading Up 0.8 %

NYSE:IHG opened at $122.77 on Friday. InterContinental Hotels Group has a 1-year low of $90.90 and a 1-year high of $131.68. The firm has a fifty day simple moving average of $124.28 and a 200 day simple moving average of $111.71. The stock has a market capitalization of $19.46 billion, a PE ratio of 24.46, a P/E/G ratio of 1.88 and a beta of 1.32.

Institutional Investors Weigh In On InterContinental Hotels Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of InterContinental Hotels Group by 5.8% during the third quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after buying an additional 351,723 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of InterContinental Hotels Group by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock worth $35,388,000 after buying an additional 73,361 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of InterContinental Hotels Group during the third quarter worth $86,000. Envestnet Asset Management Inc. lifted its holdings in shares of InterContinental Hotels Group by 6.3% during the second quarter. Envestnet Asset Management Inc. now owns 58,321 shares of the company’s stock worth $6,179,000 after buying an additional 3,431 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 buying an additional 4,087 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

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.