Shares of InterContinental Hotels Group PLC (NYSE:IHG) have earned an average rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $59.13.
Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of InterContinental Hotels Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Bank of America lifted their price objective on shares of InterContinental Hotels Group from $60.50 to $62.38 and gave the company a “buy” rating in a research note on Friday, October 20th. Credit Suisse Group upgraded shares of InterContinental Hotels Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 1st. Finally, Morgan Stanley upgraded shares of InterContinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 29th.
A number of hedge funds and other institutional investors have recently bought and sold shares of IHG. Citigroup Inc. grew its position in InterContinental Hotels Group by 21.6% in the 2nd quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock valued at $100,000 after purchasing an additional 322 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in InterContinental Hotels Group in the 3rd quarter valued at $220,000. Cubist Systematic Strategies LLC acquired a new stake in InterContinental Hotels Group in the 2nd quarter valued at $233,000. Gotham Asset Management LLC acquired a new stake in InterContinental Hotels Group in the 2nd quarter valued at $308,000. Finally, CIBC World Markets Inc. grew its position in InterContinental Hotels Group by 9.6% in the 2nd quarter. CIBC World Markets Inc. now owns 6,208 shares of the company’s stock valued at $345,000 after purchasing an additional 546 shares during the period. 6.26% of the stock is owned by institutional investors and hedge funds.
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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