Intercontinental Hotels Group (NYSE:IHG) Upgraded at Berenberg Bank

Berenberg Bank upgraded shares of Intercontinental Hotels Group (NYSE:IHG) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. Morgan Stanley raised Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a report on Friday, September 26th. Jefferies Financial Group raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Friday, December 12th. Finally, Wall Street Zen cut shares of Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Intercontinental Hotels Group Trading Up 0.5%

NYSE IHG opened at $139.00 on Tuesday. Intercontinental Hotels Group has a twelve month low of $94.78 and a twelve month high of $144.96. The firm has a 50-day simple moving average of $136.76 and a 200 day simple moving average of $126.69.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IHG. CCLA Investment Management bought a new stake in Intercontinental Hotels Group in the fourth quarter valued at about $114,306,000. CIBC Bancorp USA Inc. bought a new position in Intercontinental Hotels Group during the third quarter worth about $42,374,000. JPMorgan Chase & Co. grew its position in shares of Intercontinental Hotels Group by 125.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock worth $52,113,000 after buying an additional 251,647 shares during the period. Lazard Asset Management LLC increased its stake in shares of Intercontinental Hotels Group by 98.4% in the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock valued at $41,044,000 after acquiring an additional 176,502 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Intercontinental Hotels Group by 369.2% in the 2nd quarter. Marshall Wace LLP now owns 172,622 shares of the company’s stock valued at $19,910,000 after acquiring an additional 135,829 shares during the period. Institutional investors own 15.09% of the company’s stock.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.