InterContinental Hotels Group (NYSE:IHG) Cut to Underweight at Morgan Stanley

Morgan Stanley cut shares of InterContinental Hotels Group (NYSE:IHG) from an equal weight rating to an underweight rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports.

IHG has been the topic of several other research reports. Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

InterContinental Hotels Group Stock Performance

NYSE:IHG opened at $121.90 on Wednesday. The firm has a market capitalization of $19.33 billion, a PE ratio of 24.28, a PEG ratio of 1.88 and a beta of 1.32. The stock’s fifty day moving average is $123.86 and its 200 day moving average is $111.49. InterContinental Hotels Group has a fifty-two week low of $90.62 and a fifty-two week high of $131.68.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IHG. FMR LLC boosted its position in InterContinental Hotels Group by 5.8% in the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company’s stock valued at $705,758,000 after buying an additional 351,723 shares during the period. World Investment Advisors LLC bought a new stake in shares of InterContinental Hotels Group during the third quarter valued at approximately $86,000. JPMorgan Chase & Co. boosted its holdings in shares of InterContinental Hotels Group by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock valued at $35,388,000 after purchasing an additional 73,361 shares during the period. Bank of Montreal Can bought a new position in InterContinental Hotels Group in the second quarter worth approximately $3,892,000. Finally, Mediolanum International Funds Ltd purchased a new position in InterContinental Hotels Group during the 3rd quarter worth $1,699,000. Hedge funds and other institutional investors own 15.09% of the company’s stock.

About InterContinental Hotels Group

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.