Intercontinental Hotels Group (NYSE:IHG) Upgraded to Buy at Wall Street Zen

Key Points

• Intercontinental Hotels Group (IHG) has been upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen, indicating a positive outlook for the company.
• The company's stock is currently trading at $122.58 with a market capitalization of $18.87 billion and shows potential for growth based on recent institutional investments.
• Several hedge funds have significantly increased their stakes in IHG, with notable increases from Golden State Wealth Management LLC and Brooklyn Investment Group during the first quarter.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Intercontinental Hotels Group Stock Up 0.6%

Intercontinental Hotels Group stock traded up $0.76 during midday trading on Friday, hitting $122.15. The company's stock had a trading volume of 118,037 shares, compared to its average volume of 185,944. Intercontinental Hotels Group has a 12 month low of $94.78 and a 12 month high of $137.25. The company has a market capitalization of $18.79 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.27. The stock's 50-day moving average price is $119.29 and its 200-day moving average price is $115.70.

Institutional Investors Weigh In On Intercontinental Hotels Group

A number of large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC lifted its stake in shares of Intercontinental Hotels Group by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after buying an additional 114 shares during the last quarter. Brooklyn Investment Group increased its holdings in Intercontinental Hotels Group by 219.5% during the 1st quarter. Brooklyn Investment Group now owns 246 shares of the company's stock valued at $27,000 after purchasing an additional 169 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Intercontinental Hotels Group by 186.3% during the first quarter. Whittier Trust Co. now owns 272 shares of the company's stock valued at $30,000 after purchasing an additional 177 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Intercontinental Hotels Group by 48.7% during the 1st quarter. TD Private Client Wealth LLC now owns 348 shares of the company's stock worth $38,000 after purchasing an additional 114 shares during the last quarter. Finally, Hilltop National Bank bought a new position in shares of Intercontinental Hotels Group in the 2nd quarter worth $41,000. 15.09% of the stock is currently owned by institutional investors.

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.