InterContinental Hotels Group PLC (NYSE:IHG) has earned an average rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $59.13.
Several research analysts have recently issued reports on IHG shares. Zacks Investment Research cut InterContinental Hotels Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Morgan Stanley raised InterContinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 29th. Bank of America raised their target price on InterContinental Hotels Group from $60.50 to $62.38 and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, Credit Suisse Group raised InterContinental Hotels Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 1st.
A number of institutional investors have recently made changes to their positions in IHG. Atlantic Trust Group LLC purchased a new stake in shares of InterContinental Hotels Group during the 3rd quarter worth about $2,088,000. Cubist Systematic Strategies LLC raised its stake in shares of InterContinental Hotels Group by 48.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 6,217 shares of the company’s stock worth $329,000 after purchasing an additional 2,017 shares in the last quarter. Associated Banc Corp raised its stake in shares of InterContinental Hotels Group by 5.2% during the 3rd quarter. Associated Banc Corp now owns 29,297 shares of the company’s stock worth $1,550,000 after purchasing an additional 1,441 shares in the last quarter. Mawer Investment Management Ltd. raised its stake in shares of InterContinental Hotels Group by 16.8% during the 3rd quarter. Mawer Investment Management Ltd. now owns 113,891 shares of the company’s stock worth $6,024,000 after purchasing an additional 16,378 shares in the last quarter. Finally, Edge Advisors LLC raised its stake in shares of InterContinental Hotels Group by 19.6% during the 3rd quarter. Edge Advisors LLC now owns 127,524 shares of the company’s stock worth $6,744,000 after purchasing an additional 20,891 shares in the last quarter. 6.26% of the stock is owned by hedge funds and other institutional investors.
WARNING: “InterContinental Hotels Group PLC (IHG) Given Average Rating of “Hold” by Analysts” was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/10/intercontinental-hotels-group-plc-ihg-given-average-rating-of-hold-by-analysts.html.
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.
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.