InterContinental Hotels Group (NYSE:IHG) Downgraded by Morgan Stanley to “Underweight”

InterContinental Hotels Group (NYSE:IHG) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a note issued to investors on Wednesday, MarketBeat.com reports.

Several other research firms also recently commented on IHG. Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group upgraded 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 assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Performance

IHG stock opened at $122.88 on Wednesday. InterContinental Hotels Group has a one year low of $90.62 and a one year high of $131.68. The company’s fifty day moving average price is $123.68 and its 200-day moving average price is $111.41. The company has a market capitalization of $19.48 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 1.88 and a beta of 1.32.

Institutional Investors Weigh In On InterContinental Hotels Group

Several large investors have recently bought and sold shares of IHG. Assetmark Inc. increased its position in InterContinental Hotels Group by 130.9% during the third quarter. Assetmark Inc. now owns 769 shares of the company’s stock valued at $85,000 after acquiring an additional 436 shares during the last quarter. World Investment Advisors LLC bought a new position in InterContinental Hotels Group during the third quarter valued at $86,000. Transamerica Financial Advisors Inc. increased its position in InterContinental Hotels Group by 100,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,002 shares of the company’s stock valued at $111,000 after acquiring an additional 1,001 shares during the last quarter. AdvisorShares Investments LLC increased its position in InterContinental Hotels Group by 73.0% during the second quarter. AdvisorShares Investments LLC now owns 1,583 shares of the company’s stock valued at $164,000 after acquiring an additional 668 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in InterContinental Hotels Group by 40.7% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the company’s stock valued at $182,000 after acquiring an additional 422 shares during the last quarter. 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.