InterContinental Hotels Group (NYSE: IHG) was upgraded from an “underperform” rating to a “buy” rating by research analysts at Jefferies Financial Group in a note issued to investors on Wednesday. The fly reported.
IHG has been the subject of several other research reports. Societe Generale upgraded the InterContinental Hotels Group from a “Hold” rating to a “Buy” rating in a research note on Monday, August 30th. Morgan Stanley confirmed in a research release on Wednesday, August 11th, that it valued the shares of the InterContinental Hotels Group with “equal weighting”. Peel Hunt told InterContinental Hotels Group in a research note on Thursday 19th. Citigroup reiterated a “neutral” valuation of InterContinental Hotels Group’s shares in a report dated Monday, August 16th. Finally, in a report on Friday, September 17th, Berenberg Bank upgraded the InterContinental Hotels Group from a “Hold” rating to a “Buy” rating. Two research analysts have given the stock a sell rating, five with a hold rating and eight with a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 79.00.
Shares in NYSE IHG traded at $ 0.39 during Wednesday’s trading to hit $ 66.70. 73,734 shares of the company were traded in the hands, compared with an average volume of 107,063. The 50 day simple moving average is $ 68.01 and the 200 day simple moving average is $ 67.23. The InterContinental Hotels Group has a 12-month low of $ 60.35 and a 12-month high of $ 75.20.
Institutional investors recently changed their holdings in the company. Bank of New York Mellon Corp increased its stake in InterContinental Hotels Group shares by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 7,225 shares of the company valued at $ 482,000 after buying an additional 251 shares last quarter. Qube Research & Technologies Ltd increased its stake in InterContinental Hotels Group by 24.2% in the second quarter. Qube Research & Technologies Ltd now owns 29,126 shares in the company valued at $ 1,942,000 after purchasing an additional 5,681 shares last quarter. Parametric Portfolio Associates LLC increased its stake in InterContinental Hotels Group by 10.9% in the second quarter. Parametric Portfolio Associates LLC now owns 368,342 shares in the company valued at $ 24,565,000, after acquiring an additional 36,242 shares last quarter. Henry James International Management Inc. increased its stake in the InterContinental Hotels Group by 0.8% in the second quarter. Henry James International Management Inc. now owns 102,261 shares in the company valued at $ 6,820,000 after purchasing an additional 828 shares last quarter. Finally, Geode Capital Management LLC increased its position in the InterContinental Hotels Group by 8.6% in the first quarter. Geode Capital Management LLC now owns 7,895 shares of the company valued at $ 543,000 after purchasing an additional 622 shares during the reporting period. Institutional investors and hedge funds own 3.59% of the company’s stock.
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About the InterContinental Hotels Group
InterContinental Hotels Group Plc owns and operates hotels. The company’s hotel brands include: InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, EVEN Hotels, IHG Rewards Club, Kimpton, and HUALUXE Hotels and Resorts. It operates in the following segments: Europe, Middle East, Asia and Africa, America, Greater China and Central Asia.
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