InterContinental Hotels Group (IHG) Upgraded to “Neutral” at UBS Group

UBS Group upgraded shares of InterContinental Hotels Group (NYSE:IHG) from a sell rating to a neutral rating in a research report sent to investors on Thursday, www.benzinga.com reports.

Separately, Morgan Stanley downgraded shares of InterContinental Hotels Group from an equal weight rating to an underweight rating in a report on Monday. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company has a consensus rating of Hold and an average target price of $69.00.

NYSE:IHG traded up $0.47 during trading hours on Thursday, hitting $56.11. 130,000 shares of the company were exchanged, compared to its average volume of 137,938. InterContinental Hotels Group has a 52-week low of $50.84 and a 52-week high of $69.23.



Hedge funds have recently added to or reduced their stakes in the company. Capital World Investors purchased a new stake in shares of InterContinental Hotels Group in the 3rd quarter valued at $8,464,000. FMR LLC boosted its holdings in shares of InterContinental Hotels Group by 17.3% in the 3rd quarter. FMR LLC now owns 5,833,187 shares of the company’s stock valued at $366,267,000 after acquiring an additional 862,100 shares during the last quarter. Highland Capital Management LLC boosted its holdings in shares of InterContinental Hotels Group by 3.9% in the 3rd quarter. Highland Capital Management LLC now owns 42,517 shares of the company’s stock valued at $2,670,000 after acquiring an additional 1,600 shares during the last quarter. US Bancorp DE boosted its holdings in shares of InterContinental Hotels Group by 3.1% in the 3rd quarter. US Bancorp DE now owns 34,023 shares of the company’s stock valued at $2,137,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of InterContinental Hotels Group by 11.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,141 shares of the company’s stock valued at $635,000 after acquiring an additional 1,038 shares during the last quarter. 6.81% of the stock is currently owned by institutional investors and hedge funds.

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, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.

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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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