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

InterContinental Hotels Group (NYSE:IHG - Get Free Report) was downgraded by equities research analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating in a research note issued to investors on Wednesday, MarketBeat.com reports.

Several other equities research analysts have also recently weighed in on IHG. Barclays raised InterContinental Hotels Group from an "equal weight" rating to an "overweight" rating in a research report on Friday, November 15th. The Goldman Sachs Group raised shares of InterContinental Hotels Group from a "neutral" rating to a "buy" rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold".

InterContinental Hotels Group Price Performance

Shares of NYSE IHG traded down $0.82 during trading hours on Wednesday, hitting $121.90. 70,241 shares of the company's stock were exchanged, compared to its average volume of 86,988. The company's 50-day moving average price is $123.86 and its 200-day moving average price is $111.49. InterContinental Hotels Group has a 1-year low of $90.62 and a 1-year high of $131.68. The stock has a market capitalization of $19.33 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.88 and a beta of 1.32.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FMR LLC increased its holdings 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 acquired a new stake in shares of InterContinental Hotels Group during the 3rd quarter valued at about $86,000. JPMorgan Chase & Co. increased its stake in 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 acquiring an additional 73,361 shares during the period. Bank of Montreal Can acquired a new position in InterContinental Hotels Group in the second quarter worth about $3,892,000. Finally, Mediolanum International Funds Ltd bought a new position in InterContinental Hotels Group during the third quarter worth about $1,699,000. 15.09% of the stock is currently owned by institutional investors and hedge funds.

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.