InterContinental Hotels Group PLC (NYSE:IHG) gapped up before the market opened on Monday . The stock had previously closed at $38.45, but opened at $38.46. InterContinental Hotels Group PLC shares last traded at $39.05, with a volume of 72,284 shares.

IHG has been the topic of a number of research analyst reports. Beaufort Securities reaffirmed a “buy” rating on shares of InterContinental Hotels Group PLC in a report on Monday, May 9th. Zacks Investment Research downgraded InterContinental Hotels Group PLC from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. JPMorgan Chase & Co. downgraded InterContinental Hotels Group PLC from a “neutral” rating to an “underweight” rating in a report on Thursday, April 14th. Goldman Sachs Group Inc. downgraded InterContinental Hotels Group PLC from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Finally, Credit Agricole SA initiated coverage on InterContinental Hotels Group PLC in a report on Tuesday, April 12th. They set an “underperform” rating on the stock. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. InterContinental Hotels Group PLC currently has a consensus rating of “Hold” and an average target price of GBX 2,321.25 ($30.78).

The firm has a market capitalization of $7.64 billion and a PE ratio of 6.33. The firm has a 50-day moving average of $38.07 and a 200-day moving average of $42.63.

A number of hedge funds and institutional investors recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of InterContinental Hotels Group PLC by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 171,802 shares of the company’s stock valued at $6,656,000 after buying an additional 910 shares during the period. Freestone Capital Holdings LLC raised its position in shares of InterContinental Hotels Group PLC by 19.5% in the fourth quarter. Freestone Capital Holdings LLC now owns 65,082 shares of the company’s stock valued at $2,521,000 after buying an additional 10,620 shares during the period. Alerus Investment Advisors Corp bought a new position in shares of InterContinental Hotels Group PLC during the fourth quarter valued at about $3,907,000. Finally, US Bancorp DE raised its position in shares of InterContinental Hotels Group PLC by 558.4% in the fourth quarter. US Bancorp DE now owns 64,512 shares of the company’s stock valued at $2,499,000 after buying an additional 54,713 shares during the period.

InterContinental Hotels Group PLC is a hotel company. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s segments include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Company operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.

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