InterContinental Hotels Group (NYSE:IHG) Rating Reiterated by HSBC

InterContinental Hotels Group (NYSE:IHG)‘s stock had its “hold” rating reiterated by equities researchers at HSBC in a note issued to investors on Tuesday, The Fly reports. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley raised shares of InterContinental Hotels Group from an “underweight” rating to an “equal weight” rating in a report on Monday, March 23rd. Barclays raised shares of InterContinental Hotels Group from an “underweight” rating to an “overweight” rating in a report on Friday, April 17th. Deutsche Bank reaffirmed a “buy” rating on shares of InterContinental Hotels Group in a report on Monday, May 4th. Kepler Capital Markets raised shares of InterContinental Hotels Group from a “reduce” rating to a “hold” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of InterContinental Hotels Group in a report on Thursday, April 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. InterContinental Hotels Group currently has a consensus rating of “Hold” and an average target price of $55.00.

NYSE:IHG opened at $45.21 on Tuesday. The company has a fifty day moving average of $46.92 and a two-hundred day moving average of $53.17. The stock has a market capitalization of $8.83 billion, a PE ratio of 15.02, a P/E/G ratio of 10.27 and a beta of 1.24. InterContinental Hotels Group has a fifty-two week low of $25.39 and a fifty-two week high of $71.02.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of InterContinental Hotels Group by 28.3% in the first quarter. JPMorgan Chase & Co. now owns 1,242,097 shares of the company’s stock valued at $52,355,000 after purchasing an additional 274,106 shares during the period. Fiera Capital Corp purchased a new stake in shares of InterContinental Hotels Group in the first quarter valued at about $27,231,000. Parametric Portfolio Associates LLC grew its holdings in shares of InterContinental Hotels Group by 14.3% in the first quarter. Parametric Portfolio Associates LLC now owns 396,641 shares of the company’s stock valued at $16,718,000 after purchasing an additional 49,580 shares during the period. Jane Street Group LLC grew its holdings in shares of InterContinental Hotels Group by 2,680.0% in the first quarter. Jane Street Group LLC now owns 362,818 shares of the company’s stock valued at $15,293,000 after purchasing an additional 349,767 shares during the period. Finally, Credit Suisse AG purchased a new position in InterContinental Hotels Group during the fourth quarter worth about $23,739,000. 4.74% of the stock is owned by hedge funds and other institutional investors.

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, 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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The Fly

Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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