InterContinental Hotels Group PLC (NYSE:IHG)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $36.65, but opened at $36.81. InterContinental Hotels Group PLC shares last traded at $37.14, with a volume of 187,400 shares trading hands.

IHG has been the topic of several research analyst reports. Beaufort Securities reissued a “buy” rating on shares of InterContinental Hotels Group PLC in a report on Monday, May 9th. Morgan Stanley cut InterContinental Hotels Group PLC from an “overweight” rating to an “equal weight” rating in a report on Thursday, March 17th. Goldman Sachs Group Inc. cut InterContinental Hotels Group PLC from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Zacks Investment Research cut InterContinental Hotels Group PLC from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Finally, Credit Agricole SA initiated coverage on InterContinental Hotels Group PLC in a report on Tuesday, April 12th. They set an “underperform” rating for the company. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. InterContinental Hotels Group PLC has a consensus rating of “Hold” and an average price target of GBX 2,321.25 ($30.83).

The company’s 50 day moving average is $38.03 and its 200-day moving average is $43.11. The stock has a market cap of $7.24 billion and a PE ratio of 6.00.

Several large investors recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in InterContinental Hotels Group PLC by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 171,802 shares of the company’s stock worth $6,656,000 after buying an additional 910 shares during the last quarter. US Bancorp DE raised its position in InterContinental Hotels Group PLC by 558.4% in the fourth quarter. US Bancorp DE now owns 64,512 shares of the company’s stock worth $2,499,000 after buying an additional 54,713 shares during the last quarter. Freestone Capital Holdings LLC raised its position in InterContinental Hotels Group PLC by 19.5% in the fourth quarter. Freestone Capital Holdings LLC now owns 65,082 shares of the company’s stock worth $2,521,000 after buying an additional 10,620 shares during the last quarter. Finally, Alerus Investment Advisors Corp acquired a new position in InterContinental Hotels Group PLC during the fourth quarter worth approximately $3,907,000.

InterContinental Hotels Group PLC is a hotel company. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s segments include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Company operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.