InterContinental Hotels Group (NYSE:IHG) Downgraded to “Underweight” Rating by Morgan Stanley

Morgan Stanley lowered shares of InterContinental Hotels Group (NYSE:IHG) from an equal weight rating to an underweight rating in a report released on Wednesday, MarketBeat Ratings reports.

IHG has been the topic of a number of other reports. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group upgraded shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

InterContinental Hotels Group Stock Performance

InterContinental Hotels Group stock opened at $122.77 on Wednesday. The stock has a 50-day simple moving average of $124.07 and a 200-day simple moving average of $111.56. The company has a market capitalization of $19.46 billion, a P/E ratio of 24.46, a PEG ratio of 1.88 and a beta of 1.32. InterContinental Hotels Group has a fifty-two week low of $90.90 and a fifty-two week high of $131.68.

Institutional Investors Weigh In On InterContinental Hotels Group

Several hedge funds have recently modified their holdings of the stock. FMR LLC increased its position in InterContinental Hotels Group by 5.8% during the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after purchasing an additional 351,723 shares during the period. World Investment Advisors LLC purchased a new position in InterContinental Hotels Group in the third quarter worth $86,000. JPMorgan Chase & Co. lifted its holdings in InterContinental Hotels Group by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock valued at $35,388,000 after acquiring an additional 73,361 shares during the period. Bank of Montreal Can purchased a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth $3,892,000. Finally, Mediolanum International Funds Ltd acquired a new position in shares of InterContinental Hotels Group during the 3rd quarter worth $1,699,000. 15.09% of the stock is owned by institutional investors and hedge funds.

InterContinental Hotels Group Company Profile

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 under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.