InterContinental Hotels Group PLC (IHG) Shares Gap Up to $41.62
Shares of InterContinental Hotels Group PLC (NYSE:IHG) gapped up before the market opened on Friday . The stock had previously closed at $41.37, but opened at $41.62. InterContinental Hotels Group PLC shares last traded at $42.06, with a volume of 75,288 shares changing hands.
Several analysts have issued reports on IHG shares. Credit Agricole SA initiated coverage on InterContinental Hotels Group PLC in a report on Tuesday, April 12th. They set an “underperform” rating for the company. JPMorgan Chase & Co. lowered InterContinental Hotels Group PLC from a “neutral” rating to an “underweight” rating in a research note on Thursday, April 14th. Beaufort Securities reaffirmed a “buy” rating on shares of InterContinental Hotels Group PLC in a research note on Monday, May 9th. Goldman Sachs Group Inc. lowered InterContinental Hotels Group PLC from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 21st. Finally, Zacks Investment Research lowered InterContinental Hotels Group PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of GBX 1,225 ($16.18).
The company has a market cap of $9.59 billion and a price-to-earnings ratio of 8.53. The stock’s 50 day moving average price is $38.95 and its 200 day moving average price is $42.35.
A hedge fund recently raised its stake in InterContinental Hotels Group PLC stock. US Bancorp DE increased its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 558.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,512 shares of the company’s stock after buying an additional 54,713 shares during the period. US Bancorp DE’s holdings in InterContinental Hotels Group PLC were worth $2,499,000 as of its most recent filing with the SEC.
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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