InterContinental Hotels Group (NYSE:IHG) Downgraded by Sanford C. Bernstein to “Underperform”

Sanford C. Bernstein lowered shares of InterContinental Hotels Group (NYSE:IHGFree Report) from a market perform rating to an underperform rating in a research note published on Wednesday morning, MarketBeat Ratings reports.

Several other equities analysts also recently commented on the stock. Jefferies Financial Group downgraded shares of InterContinental Hotels Group from a buy rating to a hold rating in a research report on Wednesday. Societe Generale downgraded shares of InterContinental Hotels Group from a buy rating to a hold rating in a research report on Wednesday, February 7th. Berenberg Bank downgraded shares of InterContinental Hotels Group from a buy rating to a hold rating in a research report on Tuesday, November 14th. Finally, StockNews.com downgraded InterContinental Hotels Group from a buy rating to a hold rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold.

View Our Latest Stock Report on InterContinental Hotels Group

InterContinental Hotels Group Stock Down 1.7 %

IHG opened at $106.57 on Wednesday. The firm has a market cap of $17.55 billion, a PE ratio of 22.34, a P/E/G ratio of 1.73 and a beta of 1.29. InterContinental Hotels Group has a fifty-two week low of $63.12 and a fifty-two week high of $112.08. The business has a fifty day simple moving average of $99.04 and a 200-day simple moving average of $85.81.

Institutional Investors Weigh In On InterContinental Hotels Group

A number of institutional investors have recently added to or reduced their stakes in IHG. Natixis Advisors L.P. lifted its stake in InterContinental Hotels Group by 214.8% during the third quarter. Natixis Advisors L.P. now owns 576,718 shares of the company’s stock worth $43,110,000 after purchasing an additional 393,528 shares during the period. CIBC Private Wealth Group LLC lifted its stake in InterContinental Hotels Group by 41.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 632,644 shares of the company’s stock worth $57,546,000 after purchasing an additional 185,045 shares during the period. JPMorgan Chase & Co. raised its stake in shares of InterContinental Hotels Group by 6,374.9% in the third quarter. JPMorgan Chase & Co. now owns 182,787 shares of the company’s stock valued at $13,663,000 after acquiring an additional 179,964 shares during the last quarter. Morgan Stanley raised its position in InterContinental Hotels Group by 23.3% in the 3rd quarter. Morgan Stanley now owns 829,220 shares of the company’s stock worth $61,984,000 after purchasing an additional 156,778 shares during the last quarter. Finally, Raymond James & Associates bought a new position in InterContinental Hotels Group in the 3rd quarter worth approximately $7,666,000. 5.91% of the stock is owned by institutional investors and hedge funds.

About InterContinental Hotels Group

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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.

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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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