InterContinental Hotels Group PLC (NYSE:IHG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $61.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.23% from the stock’s current price.

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. “

IHG has been the subject of several other research reports. Barclays PLC lowered shares of InterContinental Hotels Group PLC from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 22nd. Telsey Advisory Group boosted their price objective on shares of InterContinental Hotels Group PLC from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.67.

Analyst Recommendations for InterContinental Hotels Group PLC (NYSE:IHG)

Shares of InterContinental Hotels Group PLC (NYSE:IHG) traded up 1.42% during trading on Tuesday, hitting $54.84. 321,382 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $49.76 and a 200-day moving average price of $45.41. The stock has a market cap of $10.33 billion, a P/E ratio of 27.14 and a beta of 1.28. InterContinental Hotels Group PLC has a one year low of $36.17 and a one year high of $56.50.

The business also recently declared a semiannual dividend, which will be paid on Monday, May 22nd. Shareholders of record on Friday, May 5th will be paid a dividend of $0.64 per share. This is a positive change from InterContinental Hotels Group PLC’s previous semiannual dividend of $0.47. The ex-dividend date of this dividend is Wednesday, May 3rd. This represents a yield of 2.67%.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its position in shares of InterContinental Hotels Group PLC by 14.9% in the first quarter. Envestnet Asset Management Inc. now owns 58,670 shares of the company’s stock worth $2,871,000 after buying an additional 7,604 shares during the last quarter. FCA Corp TX bought a new position in shares of InterContinental Hotels Group PLC during the first quarter worth about $221,000. CIBC World Markets Inc. raised its position in shares of InterContinental Hotels Group PLC by 20.1% in the first quarter. CIBC World Markets Inc. now owns 5,662 shares of the company’s stock worth $277,000 after buying an additional 948 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of InterContinental Hotels Group PLC by 18.1% in the first quarter. Parametric Portfolio Associates LLC now owns 185,692 shares of the company’s stock worth $9,086,000 after buying an additional 28,513 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of InterContinental Hotels Group PLC by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 6,694 shares of the company’s stock worth $328,000 after buying an additional 553 shares during the last quarter. Institutional investors and hedge funds own 6.03% of the company’s stock.

InterContinental Hotels Group PLC 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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