InterContinental Hotels Group (NYSE:IHG) Upgraded by Barclays to “Overweight” Rating

InterContinental Hotels Group (NYSE:IHG) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, Marketbeat Ratings reports.

Separately, 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

Shares of IHG stock opened at $121.20 on Friday. The company’s fifty day simple moving average is $111.70 and its 200-day simple moving average is $105.01. InterContinental Hotels Group has a 52 week low of $74.82 and a 52 week high of $122.78.

Institutional Trading of InterContinental Hotels Group

Several institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in shares of InterContinental Hotels Group by 46.9% during the first quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock worth $35,000 after purchasing an additional 106 shares during the period. Rothschild Investment LLC bought a new position in InterContinental Hotels Group in the second quarter worth about $36,000. EverSource Wealth Advisors LLC boosted its stake in InterContinental Hotels Group by 65.2% in the first quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock valued at $48,000 after acquiring an additional 191 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of InterContinental Hotels Group during the 1st quarter worth approximately $48,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth approximately $50,000. 15.09% of the stock is 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 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.