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

Berenberg Bank upgraded shares of Intercontinental Hotels Group (NYSE:IHG) from a hold rating to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

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

Intercontinental Hotels Group Price Performance

Shares of NYSE IHG opened at $134.55 on Tuesday. Intercontinental Hotels Group has a 52-week low of $94.78 and a 52-week high of $144.96. The business has a fifty day moving average of $136.46 and a two-hundred day moving average of $126.52.

Institutional Inflows and Outflows

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

Intercontinental Hotels Group Company Profile

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.