Intercontinental Hotels Group (NYSE:IHG) Raised to “Strong-Buy” at Berenberg Bank

Intercontinental Hotels Group (NYSE:IHG) was upgraded by stock analysts at Berenberg Bank from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Wednesday, October 8th. Morgan Stanley upgraded Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, October 1st. Wall Street Zen lowered Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Jefferies Financial Group raised Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Intercontinental Hotels Group currently has a consensus rating of “Moderate Buy”.

Intercontinental Hotels Group Trading Down 3.3%

IHG stock opened at $134.55 on Tuesday. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $144.96. The firm has a fifty day moving average price of $136.46 and a two-hundred day moving average price of $126.52.

Institutional Investors Weigh In On Intercontinental Hotels Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hilltop National Bank bought a new position in Intercontinental Hotels Group in the 2nd quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Intercontinental Hotels Group by 42.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock worth $50,000 after acquiring an additional 129 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Intercontinental Hotels Group by 136.5% in the third quarter. Farther Finance Advisors LLC now owns 473 shares of the company’s stock valued at $57,000 after acquiring an additional 273 shares in the last quarter. MAI Capital Management increased its stake in shares of Intercontinental Hotels Group by 330.6% during the second quarter. MAI Capital Management now owns 676 shares of the company’s stock valued at $78,000 after acquiring an additional 519 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Intercontinental Hotels Group by 56.3% during the second quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company’s stock worth $108,000 after purchasing an additional 336 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.