Intercontinental Hotels Group (IHG) Given Consensus Rating of “Hold” by Analysts
Shares of Intercontinental Hotels Group (NYSE:IHG) have received a consensus rating of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $44.00.
Several brokerages have recently issued reports on IHG. Zacks Investment Research upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, June 7th. Telsey Advisory Group upped their target price on shares of Intercontinental Hotels Group from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Thursday, February 23rd. Morgan Stanley downgraded shares of Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 15th. Credit Suisse Group downgraded shares of Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a research note on Monday. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Intercontinental Hotels Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th.
Intercontinental Hotels Group (NYSE IHG) traded up 0.47% during midday trading on Friday, hitting $56.01. 70,073 shares of the company were exchanged. The stock has a 50 day moving average of $55.91 and a 200 day moving average of $50.78. Intercontinental Hotels Group has a 1-year low of $34.63 and a 1-year high of $57.80. The firm has a market capitalization of $10.55 billion, a PE ratio of 27.71 and a beta of 1.32.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp bought a new position in Intercontinental Hotels Group during the fourth quarter valued at $201,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth approximately $207,000. FCA Corp TX acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth approximately $221,000. Greenleaf Trust acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth approximately $255,000. Finally, CIBC World Markets Inc. boosted its stake in shares of Intercontinental Hotels Group by 20.1% in the first quarter. CIBC World Markets Inc. now owns 5,662 shares of the company’s stock worth $277,000 after buying an additional 948 shares in the last quarter. 6.81% of the stock is owned by hedge funds and other institutional investors.
About Intercontinental Hotels Group
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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