InterContinental Hotels Group (IHG) Upgraded by Morgan Stanley to Equal Weight

InterContinental Hotels Group (NYSE:IHG) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, MarketBeat reports.

Several other equities research analysts have also issued reports on IHG. Zacks Investment Research lowered InterContinental Hotels Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. BidaskClub lowered InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Bank of America raised their target price on InterContinental Hotels Group from $60.50 to $62.38 and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, Credit Suisse Group upgraded InterContinental Hotels Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. InterContinental Hotels Group currently has a consensus rating of “Hold” and a consensus price target of $52.60.

Shares of InterContinental Hotels Group (NYSE IHG) traded up $0.27 during trading on Wednesday, hitting $58.76. The stock had a trading volume of 146,254 shares, compared to its average volume of 132,494. InterContinental Hotels Group has a 1 year low of $42.83 and a 1 year high of $59.43. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of -1.92.

Hedge funds have recently bought and sold shares of the company. Citigroup Inc. grew its stake in shares of InterContinental Hotels Group by 21.6% during the 2nd quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock worth $100,000 after acquiring an additional 322 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of InterContinental Hotels Group during the 3rd quarter worth $220,000. Cubist Systematic Strategies LLC bought a new position in shares of InterContinental Hotels Group during the 2nd quarter worth $233,000. Gotham Asset Management LLC bought a new position in shares of InterContinental Hotels Group during the 2nd quarter worth $308,000. Finally, CIBC World Markets Inc. grew its stake in shares of InterContinental Hotels Group by 9.6% during the 2nd quarter. CIBC World Markets Inc. now owns 6,208 shares of the company’s stock worth $345,000 after acquiring an additional 546 shares during the period. Institutional investors own 6.38% of the company’s stock.

TRADEMARK VIOLATION WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://www.americanbankingnews.com/2017/11/29/intercontinental-hotels-group-ihg-lifted-to-equal-weight-at-morgan-stanley.html.

About InterContinental Hotels Group

InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.

Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

Receive News & Ratings for InterContinental Hotels Group PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterContinental Hotels Group PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply