Equities researchers at Bank of America Corporation began coverage on shares of Intercontinental Hotels Group (NYSE:IHG) in a research report issued on Tuesday. The brokerage set a “buy” rating on the stock.

A number of other research firms have also weighed in on IHG. Zacks Investment Research lowered shares of Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. BidaskClub lowered shares of Intercontinental Hotels Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Credit Suisse Group lowered shares of Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a report on Monday, June 19th. They noted that the move was a valuation call. Finally, Morgan Stanley lowered shares of Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $50.33.

Intercontinental Hotels Group (IHG) traded up 0.96% on Tuesday, hitting $56.86. The stock had a trading volume of 35,368 shares. The company has a market cap of $10.71 billion, a P/E ratio of 28.13 and a beta of 1.34. Intercontinental Hotels Group has a 52-week low of $39.82 and a 52-week high of $57.80. The stock’s 50-day moving average is $55.93 and its 200-day moving average is $52.44.

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Institutional investors have recently added to or reduced their stakes in the company. Geneva Advisors LLC increased its position in Intercontinental Hotels Group by 3.3% in the first quarter. Geneva Advisors LLC now owns 35,919 shares of the company’s stock worth $1,758,000 after buying an additional 1,135 shares during the last quarter. Capstone Asset Management Co. increased its position in Intercontinental Hotels Group by 12.1% in the first quarter. Capstone Asset Management Co. now owns 192,062 shares of the company’s stock worth $9,398,000 after buying an additional 20,745 shares during the last quarter. Greenleaf Trust bought a new position in Intercontinental Hotels Group during the first quarter worth about $255,000. Wetherby Asset Management Inc. increased its position in Intercontinental Hotels Group by 0.9% in the first quarter. Wetherby Asset Management Inc. now owns 8,468 shares of the company’s stock worth $415,000 after buying an additional 79 shares during the last quarter. Finally, Comerica Bank increased its position in Intercontinental Hotels Group by 1.4% in the first quarter. Comerica Bank now owns 11,353 shares of the company’s stock worth $597,000 after buying an additional 159 shares during the last quarter. 6.81% of the stock is owned by institutional investors.

About Intercontinental Hotels Group

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.

Analyst Recommendations for Intercontinental Hotels Group (NYSE:IHG)

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