InterContinental Hotels Group (NYSE:IHG) Stock Rating Upgraded by Sanford C. Bernstein

InterContinental Hotels Group (NYSE:IHG) was upgraded by research analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a report released on Friday, Marketbeat.com reports.

IHG has been the topic of a number of other reports. Morgan Stanley downgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group upgraded shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

Shares of NYSE:IHG opened at $122.77 on Friday. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.88 and a beta of 1.32. The firm’s 50 day simple moving average is $124.28 and its 200 day simple moving average is $111.71. InterContinental Hotels Group has a fifty-two week low of $90.90 and a fifty-two week high of $131.68.

Institutional Trading of InterContinental Hotels Group

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in InterContinental Hotels Group by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock worth $1,337,000 after purchasing an additional 106 shares in the last quarter. QRG Capital Management Inc. increased its stake in InterContinental Hotels Group by 0.6% during the 3rd quarter. QRG Capital Management Inc. now owns 27,660 shares of the company’s stock worth $3,056,000 after purchasing an additional 152 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in InterContinental Hotels Group by 1.6% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 11,485 shares of the company’s stock worth $1,269,000 after purchasing an additional 177 shares in the last quarter. MML Investors Services LLC grew its stake in shares of InterContinental Hotels Group by 3.2% during the 3rd quarter. MML Investors Services LLC now owns 6,792 shares of the company’s stock worth $750,000 after acquiring an additional 212 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in shares of InterContinental Hotels Group by 5.4% during the 2nd quarter. Moors & Cabot Inc. now owns 4,206 shares of the company’s stock worth $446,000 after acquiring an additional 214 shares in the last quarter. 15.09% of the stock is owned by 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.