InterContinental Hotels Group (IHG) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of InterContinental Hotels Group (NYSE:IHG) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $71.00 price objective on the stock.

According to Zacks, “InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels. “

A number of other research analysts have also recently commented on the stock. Morgan Stanley upgraded shares of InterContinental Hotels Group from an underweight rating to an equal weight rating in a research report on Wednesday, November 29th. Credit Suisse Group upgraded shares of InterContinental Hotels Group from a neutral rating to an outperform rating in a research report on Wednesday, November 1st. Finally, Bank of America increased their price target on shares of InterContinental Hotels Group from $60.50 to $62.38 and gave the company a buy rating in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $59.13.

InterContinental Hotels Group (NYSE IHG) opened at $63.51 on Thursday. InterContinental Hotels Group has a 52-week low of $46.15 and a 52-week high of $63.95. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of -1.92.

Institutional investors have recently modified their holdings of the company. Citigroup Inc. grew its holdings in shares of InterContinental Hotels Group by 21.6% in the second quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock worth $100,000 after purchasing an additional 322 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of InterContinental Hotels Group in the third quarter worth approximately $220,000. Cubist Systematic Strategies LLC bought a new position in shares of InterContinental Hotels Group in the second quarter worth approximately $233,000. Gotham Asset Management LLC bought a new position in shares of InterContinental Hotels Group in the second quarter worth approximately $308,000. Finally, CIBC World Markets Inc. grew its holdings in shares of InterContinental Hotels Group by 9.6% in the second quarter. CIBC World Markets Inc. now owns 6,208 shares of the company’s stock worth $345,000 after purchasing an additional 546 shares during the last quarter. Hedge funds and other institutional investors own 6.26% of the company’s stock.

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InterContinental Hotels Group Company Profile

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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