Intercontinental Hotels Group (NYSE:IHG) Price Target Raised to $154.00

Intercontinental Hotels Group (NYSE:IHG) had its price objective boosted by analysts at Sanford C. Bernstein from $141.00 to $154.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 2.73% from the stock’s previous close.

A number of other brokerages also recently issued reports on IHG. Berenberg Bank raised shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.00.

Intercontinental Hotels Group Stock Performance

Shares of NYSE IHG opened at $149.91 on Friday. Intercontinental Hotels Group has a 52 week low of $109.79 and a 52 week high of $151.64. The business has a 50-day simple moving average of $138.62 and a two-hundred day simple moving average of $137.33.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CCLA Investment Management bought a new stake in Intercontinental Hotels Group during the fourth quarter valued at approximately $114,306,000. CIBC Bancorp USA Inc. bought a new position in shares of Intercontinental Hotels Group in the 3rd quarter worth $42,374,000. Lord Abbett & CO. LLC purchased a new stake in shares of Intercontinental Hotels Group during the 4th quarter valued at $26,758,000. Lazard Asset Management LLC raised its position in shares of Intercontinental Hotels Group by 98.4% during the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock valued at $41,044,000 after buying an additional 176,502 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Intercontinental Hotels Group by 55.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock worth $54,261,000 after acquiring an additional 145,360 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.