Intercontinental Hotels Group (NYSE:IHG) Rating Increased to Overweight at JPMorgan Chase & Co.

Key Points

• Intercontinental Hotels Group (IHG) has been upgraded from a "neutral" to an "overweight" rating by JPMorgan Chase & Co., indicating a positive shift in outlook from analysts.
• The stock is currently rated with mixed opinions, with two analysts rating it as a "Buy," two as "Hold," and two as "Sell," contributing to an average rating of "Hold."
• Several hedge funds have increased their holdings in IHG, with Lazard Asset Management boosting its position by 98.4%, reflecting increased institutional investment interest.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report) was upgraded by equities research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a report released on Friday, MarketBeat reports.

Separately, Wall Street Zen raised Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold".

Intercontinental Hotels Group Stock Performance

Shares of IHG stock opened at $118.06 on Friday. The stock's 50-day moving average is $119.88 and its two-hundred day moving average is $115.22. The firm has a market cap of $18.09 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.68 and a beta of 1.27. Intercontinental Hotels Group has a 1 year low of $94.78 and a 1 year high of $137.25.

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its holdings in shares of Intercontinental Hotels Group by 1.3% during the second quarter. Osaic Holdings Inc. now owns 7,216 shares of the company's stock worth $827,000 after buying an additional 96 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Intercontinental Hotels Group during the second quarter worth about $1,900,000. Captrust Financial Advisors grew its holdings in shares of Intercontinental Hotels Group by 10.4% during the second quarter. Captrust Financial Advisors now owns 16,745 shares of the company's stock worth $1,931,000 after buying an additional 1,578 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of Intercontinental Hotels Group by 11.6% during the second quarter. Vident Advisory LLC now owns 6,745 shares of the company's stock worth $778,000 after buying an additional 700 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in 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 purchasing an additional 176,502 shares in the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.