InterContinental Hotels Group (NYSE:IHG) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of InterContinental Hotels Group (NYSE:IHG) from an underperform rating to a market perform rating in a research note released on Friday morning, MarketBeat Ratings reports.

A number of other equities analysts have also recently commented on the stock. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group upgraded InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. Finally, Morgan Stanley cut InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

IHG stock opened at $122.77 on Friday. The firm has a 50 day simple moving average of $124.28 and a two-hundred day simple moving average of $111.76. The stock has a market cap of $19.46 billion, a PE ratio of 24.46, a P/E/G ratio of 1.88 and a beta of 1.32. InterContinental Hotels Group has a one year low of $90.90 and a one year high of $131.68.

Institutional Investors Weigh In On InterContinental Hotels Group

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of InterContinental Hotels Group by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock worth $1,337,000 after purchasing an additional 106 shares during the period. Envestnet Asset Management Inc. grew its position in shares of InterContinental Hotels Group by 6.3% in the 2nd 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 during the last quarter. Capital Wealth Planning LLC grew its position in shares of InterContinental Hotels Group by 125.2% in the 2nd quarter. Capital Wealth Planning LLC now owns 24,257 shares of the company’s stock worth $2,570,000 after buying an additional 13,487 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake 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 valued at $5,307,000 after buying an additional 4,087 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in shares of InterContinental Hotels Group by 5.4% during the second quarter. Moors & Cabot Inc. now owns 4,206 shares of the company’s stock valued at $446,000 after acquiring an additional 214 shares in the last quarter. Institutional investors 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.