Morgan Stanley upgraded shares of InterContinental Hotels Group (NYSE:IHG) from an underweight rating to an equal weight rating in a research note released on Wednesday, Marketbeat.com reports.

IHG has been the subject of a number of other reports. Zacks Investment Research cut shares of InterContinental Hotels Group from a hold rating to a sell rating in a research report on Wednesday, September 6th. BidaskClub cut shares of InterContinental Hotels Group from a buy rating to a hold rating in a research report on Friday, August 11th. Bank of America upped their price target on shares of InterContinental Hotels Group from $60.50 to $62.38 and gave the stock a buy rating in a research report on Friday, October 20th. Finally, Credit Suisse Group raised shares of InterContinental Hotels Group from a neutral rating to an outperform rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $52.60.

Shares of InterContinental Hotels Group (NYSE IHG) traded up $0.56 during trading on Wednesday, reaching $59.22. 502,774 shares of the company were exchanged, compared to its average volume of 151,824. The company has a debt-to-equity ratio of -1.92, a current ratio of 0.73 and a quick ratio of 0.72. InterContinental Hotels Group has a 12-month low of $42.87 and a 12-month high of $59.48.

Institutional investors have recently made changes to their positions in the stock. Morgan Stanley boosted its position in InterContinental Hotels Group by 0.6% in the 1st quarter. Morgan Stanley now owns 37,060 shares of the company’s stock valued at $1,814,000 after buying an additional 218 shares during the last quarter. Citigroup Inc. boosted its position in InterContinental Hotels Group by 21.6% in the 2nd quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock valued at $100,000 after buying an additional 322 shares during the last quarter. Bank of New York Mellon Corp boosted its position in InterContinental Hotels Group by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,258 shares of the company’s stock valued at $792,000 after buying an additional 346 shares during the last quarter. CIBC World Markets Inc. boosted its position in InterContinental Hotels Group by 9.6% in the 2nd quarter. CIBC World Markets Inc. now owns 6,208 shares of the company’s stock valued at $345,000 after buying an additional 546 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in InterContinental Hotels Group by 16.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,785 shares of the company’s stock valued at $432,000 after buying an additional 1,091 shares during the last quarter. 6.38% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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