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.