Zacks Investment Research upgraded shares of Intercontinental Hotels Group (NYSE:IHG) from a sell rating to a hold rating in a report issued on Thursday morning.

According to Zacks, “InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels. “

Several other research analysts have also weighed in on IHG. BidaskClub lowered shares of Intercontinental Hotels Group from a buy rating to a hold rating in a research note on Friday, August 11th. Credit Suisse Group lowered shares of Intercontinental Hotels Group from an outperform rating to a neutral rating in a research note on Monday, June 19th. They noted that the move was a valuation call. Morgan Stanley lowered shares of Intercontinental Hotels Group from an equal weight rating to an underweight rating in a research note on Thursday, June 15th. Finally, Bank of America Corporation reissued a buy rating on shares of Intercontinental Hotels Group in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Intercontinental Hotels Group currently has an average rating of Hold and an average price target of $50.33.

Shares of Intercontinental Hotels Group (NYSE:IHG) opened at 49.66 on Thursday. Intercontinental Hotels Group has a 52-week low of $39.82 and a 52-week high of $57.80. The firm has a market capitalization of $9.73 billion, a P/E ratio of 22.27 and a beta of 1.34. The stock’s 50 day moving average is $54.38 and its 200-day moving average is $53.27.

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The business also recently declared a special dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, August 30th.

A number of hedge funds and other institutional investors have recently made changes to their positions in IHG. Geneva Advisors LLC raised its position in shares of Intercontinental Hotels Group by 3.3% in the first quarter. Geneva Advisors LLC now owns 35,919 shares of the company’s stock worth $1,758,000 after buying an additional 1,135 shares during the last quarter. Liberty Mutual Group Asset Management Inc. bought a new position in shares of Intercontinental Hotels Group during the first quarter worth $367,000. Comerica Bank raised its position in shares of Intercontinental Hotels Group by 1.4% in the first quarter. Comerica Bank now owns 11,353 shares of the company’s stock worth $597,000 after buying an additional 159 shares during the last quarter. Greenleaf Trust bought a new position in shares of Intercontinental Hotels Group during the first quarter worth $255,000. Finally, Wetherby Asset Management Inc. raised its position in shares of Intercontinental Hotels Group by 0.9% in the first quarter. Wetherby Asset Management Inc. now owns 8,468 shares of the company’s stock worth $415,000 after buying an additional 79 shares during the last quarter. 6.70% of the stock is currently owned by hedge funds and other institutional investors.

About Intercontinental Hotels Group

InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.

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