Intercontinental Hotels Group (IHG) Lifted to Buy at Zacks Investment Research
Intercontinental Hotels Group (NYSE:IHG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $60.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 11.61% from the company’s previous close.
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 topic of several other research reports. Bank of America Corporation reaffirmed a “buy” rating on shares of Intercontinental Hotels Group in a report on Tuesday, July 25th. BidaskClub downgraded Intercontinental Hotels Group from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Intercontinental Hotels Group presently has an average rating of “Hold” and a consensus price target of $52.60.
Shares of Intercontinental Hotels Group (NYSE IHG) traded up 0.19% during trading on Monday, hitting $53.76. The stock had a trading volume of 98,873 shares. The stock’s 50 day moving average is $52.13 and its 200 day moving average is $53.91. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 24.11 and a beta of 1.37. Intercontinental Hotels Group has a 52 week low of $39.82 and a 52 week high of $57.80.
Several institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its position in shares of Intercontinental Hotels Group by 12.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 385,813 shares of the company’s stock valued at $21,424,000 after acquiring an additional 42,491 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Intercontinental Hotels Group during the 2nd quarter valued at $233,000. Gotham Asset Management LLC bought a new stake in shares of Intercontinental Hotels Group during the 2nd quarter valued at $308,000. Goldman Sachs Group Inc. raised its position in shares of Intercontinental Hotels Group by 9.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 69,660 shares of the company’s stock valued at $3,868,000 after acquiring an additional 6,079 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Intercontinental Hotels Group during the 2nd quarter valued at $509,000. Institutional investors own 6.70% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intercontinental Hotels Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Hotels Group and related companies with MarketBeat.com's FREE daily email newsletter.