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

A number of other brokerages also recently weighed in on IHG. Credit Suisse Group raised InterContinental Hotels Group from a neutral rating to an outperform rating in a research note on Wednesday, November 1st. Bank of America raised their price objective on InterContinental Hotels Group from $60.50 to $62.38 and gave the company a buy rating in a research note on Friday, October 20th. Zacks Investment Research downgraded InterContinental Hotels Group from a hold rating to a sell rating in a research note on Wednesday, October 11th. Finally, BidaskClub downgraded InterContinental Hotels Group from a buy rating to a hold rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $52.60.

InterContinental Hotels Group (NYSE:IHG) opened at $59.22 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.72 and a debt-to-equity ratio of -1.92. InterContinental Hotels Group has a one year low of $42.87 and a one year high of $59.48.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley grew its holdings in InterContinental Hotels Group by 0.6% in the 1st quarter. Morgan Stanley now owns 37,060 shares of the company’s stock valued at $1,814,000 after buying an additional 218 shares during the last quarter. Citigroup Inc. grew its holdings in InterContinental Hotels Group by 21.6% in the 2nd quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock valued at $100,000 after buying an additional 322 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in InterContinental Hotels Group by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,258 shares of the company’s stock valued at $792,000 after buying an additional 346 shares during the last quarter. CIBC World Markets Inc. grew its holdings in InterContinental Hotels Group by 9.6% in the 2nd quarter. CIBC World Markets Inc. now owns 6,208 shares of the company’s stock valued at $345,000 after buying an additional 546 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in InterContinental Hotels Group by 16.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,785 shares of the company’s stock valued at $432,000 after buying an additional 1,091 shares during the last quarter. 6.38% of the stock is currently owned by hedge funds and other institutional investors.

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About InterContinental Hotels Group

InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.

Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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