Intercontinental Hotels Group (NYSE:IHG) Receives Average Rating of “Hold” from Brokerages

Shares of Intercontinental Hotels Group (NYSE:IHG) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company.

IHG has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research note on Friday, September 26th. Wall Street Zen downgraded Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Morgan Stanley raised shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Wednesday, October 8th.

Intercontinental Hotels Group Stock Performance

Shares of NYSE:IHG opened at $134.18 on Monday. Intercontinental Hotels Group has a 52 week low of $94.78 and a 52 week high of $137.25. The company has a 50-day moving average price of $124.87 and a 200 day moving average price of $120.72.

Institutional Investors Weigh In On Intercontinental Hotels Group

A number of institutional investors and hedge funds have recently modified their holdings of IHG. Northern Trust Corp grew its holdings in Intercontinental Hotels Group by 3.2% in the first quarter. Northern Trust Corp now owns 150,918 shares of the company’s stock valued at $16,539,000 after purchasing an additional 4,644 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Intercontinental Hotels Group in the 2nd quarter valued at $250,000. Callan Family Office LLC boosted its holdings in shares of Intercontinental Hotels Group by 51.2% in the 2nd quarter. Callan Family Office LLC now owns 9,068 shares of the company’s stock valued at $1,046,000 after purchasing an additional 3,071 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Intercontinental Hotels Group during the 2nd quarter valued at $292,000. Finally, Zions Bancorporation National Association UT increased its holdings in shares of Intercontinental Hotels Group by 101.7% during the 2nd quarter. Zions Bancorporation National Association UT now owns 7,827 shares of the company’s stock worth $903,000 after buying an additional 3,947 shares during the last quarter. Institutional investors and hedge funds 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.