Intercontinental Hotels Group (NYSE:IHG) Upgraded to "Equal Weight" at Morgan Stanley

Key Points

• Intercontinental Hotels Group (IHG) was upgraded by Morgan Stanley from an "underweight" rating to an "equal weight" rating.
• Several research firms, including Wall Street Zen and JPMorgan Chase, have also recently upgraded their ratings for IHG, reflecting positive sentiment among analysts.
• Currently, IHG has a market cap of $18.53 billion and a consensus rating of "Hold" among analysts, with varying ratings from Buy to Sell.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report) was upgraded by research analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating in a research note issued on Wednesday,Finviz reports.

Several other research firms have also recently commented on IHG. Wall Street Zen raised Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. JPMorgan Chase & Co. raised Intercontinental Hotels Group from a "neutral" rating to an "overweight" rating in a research note on Friday, September 26th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Intercontinental Hotels Group currently has a consensus rating of "Hold".

Intercontinental Hotels Group Stock Performance

Shares of IHG opened at $121.19 on Wednesday. The stock has a fifty day moving average price of $120.16 and a two-hundred day moving average price of $115.41. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.74 and a beta of 1.27. Intercontinental Hotels Group has a 52-week low of $94.78 and a 52-week high of $137.25.

Institutional Investors Weigh In On Intercontinental Hotels Group

Large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its position in Intercontinental Hotels Group by 100.0% during 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 in the last quarter. Brooklyn Investment Group boosted its holdings in shares of Intercontinental Hotels Group by 219.5% in 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. boosted its holdings in shares of Intercontinental Hotels Group by 186.3% in the 1st quarter. Whittier Trust Co. now owns 272 shares of the company's stock valued at $30,000 after purchasing an additional 177 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Intercontinental Hotels Group by 48.7% in the 1st quarter. TD Private Client Wealth LLC now owns 348 shares of the company's stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Intercontinental Hotels Group in the 2nd quarter valued at $41,000. Institutional investors and hedge funds 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.

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