Investment analysts at Credit Suisse Group assumed coverage on shares of InterContinental Hotels Group (NYSE:IHG) in a report issued on Wednesday, The Fly reports. The firm set a “neutral” rating on the stock.
A number of other equities analysts have also recently commented on the company. HSBC reaffirmed a “hold” rating on shares of InterContinental Hotels Group in a report on Tuesday, June 23rd. They noted that the move was a valuation call. Peel Hunt started coverage on InterContinental Hotels Group in a research note on Friday, June 26th. They issued a “buy” rating on the stock. Zacks Investment Research increased their target price on shares of InterContinental Hotels Group to $55.00 in a report on Thursday, June 4th. Barclays upgraded shares of InterContinental Hotels Group from an “underweight” rating to an “overweight” rating in a research report on Friday, April 17th. Finally, Deutsche Bank restated a “buy” rating on shares of InterContinental Hotels Group in a research report on Monday, May 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $55.00.
IHG opened at $45.22 on Wednesday. The firm’s 50 day simple moving average is $46.99 and its two-hundred day simple moving average is $52.61. The company has a market capitalization of $8.26 billion, a PE ratio of 15.02, a PEG ratio of 13.52 and a beta of 1.24. InterContinental Hotels Group has a 1-year low of $25.39 and a 1-year high of $71.02.
A number of hedge funds and other institutional investors have recently made changes to their positions in IHG. PNC Financial Services Group Inc. lifted its stake in InterContinental Hotels Group by 6.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,704 shares of the company’s stock worth $198,000 after purchasing an additional 276 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of InterContinental Hotels Group by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 10,725 shares of the company’s stock worth $453,000 after buying an additional 316 shares in the last quarter. UBS Group AG lifted its position in shares of InterContinental Hotels Group by 23.7% in the fourth quarter. UBS Group AG now owns 1,879 shares of the company’s stock worth $129,000 after buying an additional 360 shares in the last quarter. FDx Advisors Inc. boosted its stake in InterContinental Hotels Group by 11.6% during the first quarter. FDx Advisors Inc. now owns 4,949 shares of the company’s stock valued at $209,000 after buying an additional 515 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new position in InterContinental Hotels Group during the 1st quarter valued at approximately $25,000. Institutional investors own 4.74% of the company’s stock.
About InterContinental Hotels Group
InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels, resorts, and restaurants under the InterContinental, KIMPTON, Hotel Indigo, EVEN HOTELS, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.
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