InterContinental Hotels Group (IHG) Earns “Buy” Rating from Bank of America

InterContinental Hotels Group (NYSE:IHG)‘s stock had its “buy” rating reaffirmed by investment analysts at Bank of America in a research note issued on Monday, Marketbeat reports.

Several other research firms also recently commented on IHG. Berenberg Bank upgraded InterContinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. Goldman Sachs Group cut InterContinental Hotels Group from a “buy” rating to a “neutral” rating in a research note on Thursday, January 10th. Morgan Stanley cut InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Monday, January 7th. Finally, UBS Group raised InterContinental Hotels Group from a “sell” rating to a “neutral” rating in a research note on Thursday, January 10th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $69.00.

IHG stock opened at $58.31 on Monday. InterContinental Hotels Group has a fifty-two week low of $50.84 and a fifty-two week high of $67.17.

Several institutional investors and hedge funds have recently made changes to their positions in IHG. Advisor Group Inc. lifted its position in InterContinental Hotels Group by 6.4% during the fourth quarter. Advisor Group Inc. now owns 6,141 shares of the company’s stock valued at $336,000 after acquiring an additional 367 shares during the last quarter. Scotia Capital Inc. grew its position in InterContinental Hotels Group by 30.2% during the fourth quarter. Scotia Capital Inc. now owns 17,296 shares of the company’s stock valued at $994,000 after buying an additional 4,010 shares during the period. Bank of New York Mellon Corp grew its position in shares of InterContinental Hotels Group by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 14,262 shares of the company’s stock valued at $778,000 after purchasing an additional 620 shares during the period. Lindbrook Capital LLC acquired a new stake in shares of InterContinental Hotels Group in the fourth quarter valued at about $27,000. Finally, Greenleaf Trust lifted its stake in shares of InterContinental Hotels Group by 51.7% in the fourth quarter. Greenleaf Trust now owns 8,690 shares of the company’s stock worth $474,000 after buying an additional 2,962 shares in the last quarter. 7.16% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Company Profile

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, Candlewood Suites, and InterContinental Hotels & Resorts brands.

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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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