Intercontinental Hotels Group (NYSE:IHG) Hits New 52-Week High Following Analyst Upgrade

Shares of Intercontinental Hotels Group (NYSE:IHG) reached a new 52-week high during mid-day trading on Friday after Jefferies Financial Group upgraded the stock from a hold rating to a buy rating. The stock traded as high as $139.52 and last traded at $138.5340, with a volume of 27562 shares. The stock had previously closed at $136.27.

Several other analysts have also recently commented on IHG. Wall Street Zen cut Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Monday, October 27th. JPMorgan Chase & Co. upgraded shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a report on Friday, September 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Wednesday, October 8th. Finally, Morgan Stanley upgraded Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Trading of Intercontinental Hotels Group

A number of hedge funds and other institutional investors have recently made changes to their positions in IHG. Osaic Holdings Inc. grew its holdings in Intercontinental Hotels Group by 1.3% during the 2nd quarter. Osaic Holdings Inc. now owns 7,216 shares of the company’s stock worth $827,000 after acquiring an additional 96 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Intercontinental Hotels Group by 3.9% during the second quarter. Frank Rimerman Advisors LLC now owns 2,571 shares of the company’s stock worth $297,000 after purchasing an additional 97 shares during the last quarter. King Luther Capital Management Corp increased its holdings in Intercontinental Hotels Group by 6.1% in the second quarter. King Luther Capital Management Corp now owns 2,044 shares of the company’s stock valued at $236,000 after buying an additional 118 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Intercontinental Hotels Group by 42.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock valued at $50,000 after buying an additional 129 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Intercontinental Hotels Group by 1.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 9,214 shares of the company’s stock worth $1,117,000 after buying an additional 150 shares during the last quarter. Institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Price Performance

The firm has a 50-day moving average price of $127.62 and a 200 day moving average price of $121.76.

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.