InterContinental Hotels Group (NYSE:IHG) Coverage Initiated by Analysts at Citigroup

Equities researchers at Citigroup assumed coverage on shares of InterContinental Hotels Group (NYSE:IHG) in a research report issued on Monday. The firm set a “sell” rating on the stock.

Several other brokerages also recently weighed in on IHG. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. Sanford C. Bernstein upgraded shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Finally, Morgan Stanley downgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Down 3.3 %

InterContinental Hotels Group stock opened at $124.41 on Monday. The firm has a market capitalization of $19.71 billion, a P/E ratio of 22.06, a PEG ratio of 1.69 and a beta of 1.32. The firm has a fifty day moving average of $128.73 and a 200-day moving average of $117.56. InterContinental Hotels Group has a 52-week low of $91.57 and a 52-week high of $137.25.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. FMR LLC lifted its position in shares of InterContinental Hotels Group by 5.8% in the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after buying an additional 351,723 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of InterContinental Hotels Group by 1.2% in the 4th quarter. Natixis Advisors LLC now owns 698,150 shares of the company’s stock worth $87,213,000 after buying an additional 8,067 shares during the last quarter. Bank of America Corp DE lifted its position in shares of InterContinental Hotels Group by 8.9% in the 4th quarter. Bank of America Corp DE now owns 430,323 shares of the company’s stock worth $53,756,000 after buying an additional 35,003 shares during the last quarter. Clark Capital Management Group Inc. lifted its position in shares of InterContinental Hotels Group by 1.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 373,139 shares of the company’s stock worth $46,613,000 after buying an additional 6,709 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of InterContinental Hotels Group by 29.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock worth $35,388,000 after buying an additional 73,361 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors.

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.