InterContinental Hotels Group (NYSE:IHG) Raised to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of InterContinental Hotels Group (NYSE:IHG) from an underweight rating to an equal weight rating in a research report report published on Monday, The Fly reports.

Several other brokerages also recently issued reports on IHG. UBS Group raised InterContinental Hotels Group from a sell rating to a neutral rating in a research note on Thursday, March 12th. Royal Bank of Canada raised InterContinental Hotels Group from an underperform rating to a sector perform rating in a research note on Wednesday, March 11th. Finally, Zacks Investment Research raised InterContinental Hotels Group from a sell rating to a hold rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold.

InterContinental Hotels Group stock traded up $4.04 during mid-day trading on Monday, hitting $43.77. The company’s stock had a trading volume of 1,322,053 shares, compared to its average volume of 450,367. The firm’s 50 day moving average is $52.47 and its 200 day moving average is $60.34. The company has a market cap of $6.55 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.87 and a beta of 1.19. InterContinental Hotels Group has a 52-week low of $25.39 and a 52-week high of $71.02.

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 14th. Investors of record on Friday, April 3rd will be paid a $0.859 dividend. This represents a yield of 1.8%. The ex-dividend date is Thursday, April 2nd. InterContinental Hotels Group’s dividend payout ratio is currently 25.91%.

A number of institutional investors have recently made changes to their positions in IHG. Credit Suisse AG acquired a new position in InterContinental Hotels Group in the 4th quarter worth about $23,739,000. Driehaus Capital Management LLC acquired a new position in shares of InterContinental Hotels Group during the 4th quarter valued at about $3,008,000. Okabena Investment Services Inc. acquired a new position in shares of InterContinental Hotels Group during the 4th quarter valued at about $2,167,000. Barclays PLC acquired a new position in shares of InterContinental Hotels Group during the 3rd quarter valued at about $1,581,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of InterContinental Hotels Group during the 4th quarter valued at about $1,717,000. 6.54% of the stock is owned by hedge funds and other 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, resorts, and restaurants under the InterContinental, KIMPTON, Hotel Indigo, EVEN HOTELS, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.

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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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