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

Key Points

• Intercontinental Hotels Group (NYSE:IHG) was upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting increased analyst confidence in the stock.
• Other analysts, including Morgan Stanley and JPMorgan Chase, have also recently upgraded their ratings on IHG, indicating a positive outlook among financial experts.
• Share prices of Intercontinental Hotels Group have shown a 1.7% increase, with the stock currently trading at $120.69 and a market capitalization of $18.42 billion.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Sunday.

Several other equities analysts also recently weighed in on the company. Morgan Stanley upgraded Intercontinental Hotels Group from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upgraded Intercontinental Hotels Group from a "neutral" rating to an "overweight" rating in a research report on Friday, September 26th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Intercontinental Hotels Group in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Intercontinental Hotels Group Trading Up 1.7%

NYSE IHG opened at $120.69 on Friday. The business's 50-day moving average price is $121.36 and its 200 day moving average price is $116.39. Intercontinental Hotels Group has a twelve month low of $94.78 and a twelve month high of $137.25. The company has a market capitalization of $18.42 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24.

Institutional Investors Weigh In On Intercontinental Hotels Group

Several hedge funds have recently modified their holdings of IHG. Janney Montgomery Scott LLC purchased a new stake in shares of Intercontinental Hotels Group during the 1st quarter valued at about $276,000. Blue Trust Inc. raised its holdings in shares of Intercontinental Hotels Group by 32.4% during the 1st quarter. Blue Trust Inc. now owns 3,763 shares of the company's stock valued at $412,000 after buying an additional 920 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Intercontinental Hotels Group by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock valued at $25,000 after buying an additional 114 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Intercontinental Hotels Group by 4.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company's stock valued at $232,000 after purchasing an additional 96 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in Intercontinental Hotels Group by 4.5% during the 1st quarter. Aaron Wealth Advisors LLC now owns 2,245 shares of the company's stock valued at $246,000 after purchasing an additional 96 shares in the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

About Intercontinental Hotels Group

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.

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