InterContinental Hotels Group PLC (IHG) Shares Gap Up to $41.62
InterContinental Hotels Group PLC (NYSE:IHG)’s share price 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 traded.
A number of equities analysts recently weighed in on IHG shares. Goldman Sachs Group Inc. lowered shares of InterContinental Hotels Group PLC from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Credit Agricole SA started coverage on shares of InterContinental Hotels Group PLC in a research report on Tuesday, April 12th. They set an “underperform” rating on the stock. Beaufort Securities restated a “buy” rating on shares of InterContinental Hotels Group PLC in a research report on Monday, May 9th. Zacks Investment Research lowered shares of InterContinental Hotels Group PLC from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. lowered shares of InterContinental Hotels Group PLC from a “neutral” rating to an “underweight” rating in a report on Thursday, April 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of GBX 1,225 ($16.18).
The company has a 50-day moving average of $38.95 and a 200 day moving average of $42.35. The company has a market cap of $9.59 billion and a PE ratio of 8.53.
A hedge fund recently raised its stake in InterContinental Hotels Group PLC stock. US Bancorp DE raised its stake 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. 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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