Intercontinental Hotels Group (IHG) Receives Average Rating of “Hold” from Brokerages
Shares of Intercontinental Hotels Group (NYSE:IHG) have received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $52.60.
IHG has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Intercontinental Hotels Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. BidaskClub downgraded shares of Intercontinental Hotels Group from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Bank of America Corporation restated a “buy” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, July 25th.
Intercontinental Hotels Group (NYSE:IHG) opened at 54.77 on Friday. Intercontinental Hotels Group has a 52-week low of $39.84 and a 52-week high of $57.80. The stock has a 50 day moving average price of $52.29 and a 200 day moving average price of $53.93. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 24.56 and a beta of 1.37.
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Hedge funds have recently made changes to their positions in the business. Citigroup Inc. increased its holdings in Intercontinental Hotels Group by 21.6% during the second quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock valued at $100,000 after buying an additional 322 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Intercontinental Hotels Group during the second quarter valued at approximately $233,000. Gotham Asset Management LLC purchased a new stake in Intercontinental Hotels Group during the second quarter valued at approximately $308,000. Ameriprise Financial Inc. increased its holdings in Intercontinental Hotels Group by 9.0% during the first quarter. Ameriprise Financial Inc. now owns 6,694 shares of the company’s stock valued at $328,000 after buying an additional 553 shares during the last quarter. Finally, CIBC World Markets Inc. increased its holdings in Intercontinental Hotels Group by 9.6% during the second quarter. CIBC World Markets Inc. now owns 6,208 shares of the company’s stock valued at $345,000 after buying an additional 546 shares during the last quarter. 6.72% of the stock is owned by institutional investors and hedge funds.
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.
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