Intercontinental Hotels Group (NYSE:IHG) Stock Has Average Price Target of $179.00 According to Analysts

Intercontinental Hotels Group (NYSE:IHG) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $179.00.

A number of research firms have recently weighed in on IHG. Jefferies Financial Group raised their price target on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a report on Friday, June 26th. UBS Group raised shares of Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 price target for the company in a report on Wednesday, September 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Friday, August 21st. Finally, Zacks Research upgraded Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th.

Intercontinental Hotels Group Stock Performance

Intercontinental Hotels Group stock opened at $162.79 on Friday. Intercontinental Hotels Group has a twelve month low of $118.47 and a twelve month high of $175.89. The business has a fifty day moving average of $158.46 and a two-hundred day moving average of $153.99.

Intercontinental Hotels Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, August 21st will be paid a $0.6450 dividend. The ex-dividend date is Friday, August 21st. This is a negative change from Intercontinental Hotels Group’s previous dividend of $1.2590. This represents a dividend yield of 81.0%.

Institutional Trading of Intercontinental Hotels Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its holdings in Intercontinental Hotels Group by 55.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock valued at $54,261,000 after purchasing an additional 145,360 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Intercontinental Hotels Group by 198.5% during the first quarter. Renaissance Technologies LLC now owns 60,600 shares of the company’s stock worth $8,088,000 after buying an additional 40,300 shares in the last quarter. ABC Arbitrage SA raised its holdings in Intercontinental Hotels Group by 31.0% in the 1st quarter. ABC Arbitrage SA now owns 134,259 shares of the company’s stock valued at $17,918,000 after acquiring an additional 31,754 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Intercontinental Hotels Group during the second quarter worth approximately $3,259,000. Finally, Quantinno Capital Management LP raised its holdings in shares of Intercontinental Hotels Group by 25.0% during the 1st quarter. Quantinno Capital Management LP now owns 93,268 shares of the company’s stock worth $12,448,000 after acquiring an additional 18,631 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

About Intercontinental Hotels Group

InterContinental Hotels Group PLC (NYSE: IHG), commonly known as IHG Hotels & Resorts, is a global hospitality company that operates, manages, franchises and licenses hotels and resorts. Its portfolio serves a broad range of travelers, from luxury and lifestyle guests to business and value-oriented customers.

IHG’s brand family includes InterContinental, Regent Hotels & Resorts, Six Senses, Kimpton, Vignette Collection, Crowne Plaza, voco, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, avid hotels, Atwell Suites and Garner Hotel.