Intercontinental Hotels Group (NYSE:IHG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Intercontinental Hotels Group (NYSE:IHG) have received an average rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $174.50.

Several equities analysts have issued reports on the company. Sanford C. Bernstein raised their price objective on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a report on Friday, May 15th. Jefferies Financial Group upped their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th.

Intercontinental Hotels Group Trading Down 1.6%

Shares of NYSE:IHG opened at $162.34 on Tuesday. Intercontinental Hotels Group has a 12 month low of $113.32 and a 12 month high of $175.89. The company’s fifty day moving average price is $160.93 and its 200 day moving average price is $146.65.

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of hedge funds have recently modified their holdings of IHG. CCLA Investment Management purchased a new position in shares of Intercontinental Hotels Group during the fourth quarter worth approximately $114,306,000. Morgan Stanley raised its position in Intercontinental Hotels Group by 3.9% in the 4th quarter. Morgan Stanley now owns 764,049 shares of the company’s stock valued at $107,601,000 after purchasing an additional 28,526 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Intercontinental Hotels Group by 1.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company’s stock worth $100,006,000 after purchasing an additional 9,235 shares during the period. Bank of America Corp DE boosted its stake in Intercontinental Hotels Group by 0.8% during the 3rd quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock worth $60,835,000 after purchasing an additional 4,080 shares during the period. Finally, Natixis Advisors LLC grew its position in Intercontinental Hotels Group by 3.9% during the 4th quarter. Natixis Advisors LLC now owns 465,747 shares of the company’s stock worth $65,591,000 after purchasing an additional 17,503 shares during the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.