Analysts Set InterContinental Hotels Group (IHG) Target Price at $66.00

InterContinental Hotels Group (NYSE:IHG) has received a consensus recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $66.00.

IHG has been the topic of several recent analyst reports. Zacks Investment Research downgraded InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. ValuEngine downgraded InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. SunTrust Banks increased their target price on InterContinental Hotels Group to $66.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Finally, Bank of America downgraded InterContinental Hotels Group from a “buy” rating to a “neutral” rating in a research note on Friday, May 11th.

Shares of InterContinental Hotels Group traded down $0.18, hitting $65.56, during midday trading on Tuesday, Marketbeat.com reports. The company had a trading volume of 69,072 shares, compared to its average volume of 306,835. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of -2.22. The company has a market capitalization of $12.44 billion, a P/E ratio of 26.98, a PEG ratio of 2.40 and a beta of 1.31. InterContinental Hotels Group has a 52-week low of $49.03 and a 52-week high of $69.23.

The firm also recently announced a None dividend, which was paid on Friday, May 11th. Shareholders of record on Tuesday, April 3rd were paid a dividend of $0.695 per share. The ex-dividend date was Monday, April 2nd. InterContinental Hotels Group’s dividend payout ratio is 41.98%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in InterContinental Hotels Group by 263.7% during the 4th quarter. Renaissance Technologies LLC now owns 214,600 shares of the company’s stock valued at $13,629,000 after purchasing an additional 155,600 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of InterContinental Hotels Group by 13.0% during the 1st quarter. Aperio Group LLC now owns 198,462 shares of the company’s stock valued at $12,148,000 after buying an additional 22,840 shares during the period. Freestone Capital Holdings LLC lifted its holdings in shares of InterContinental Hotels Group by 4.3% during the 1st quarter. Freestone Capital Holdings LLC now owns 180,548 shares of the company’s stock valued at $11,051,000 after buying an additional 7,442 shares during the period. Edge Advisors LLC lifted its holdings in shares of InterContinental Hotels Group by 2.7% during the 4th quarter. Edge Advisors LLC now owns 130,914 shares of the company’s stock valued at $8,314,000 after buying an additional 3,390 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of InterContinental Hotels Group by 1,083.2% during the 1st quarter. Wells Fargo & Company MN now owns 89,759 shares of the company’s stock valued at $5,494,000 after buying an additional 82,173 shares during the period. Institutional investors and hedge funds own 6.35% of the company’s stock.

About InterContinental Hotels Group

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, and Candlewood Suites brands.

Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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