InterContinental Hotels Group (IHG) Lifted to Buy at Goldman Sachs Group

InterContinental Hotels Group (NYSE:IHG) was upgraded by analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat.com reports.

Several other research firms have also commented on IHG. Zacks Investment Research lowered shares of InterContinental Hotels Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Bank of America raised their price target on shares of InterContinental Hotels Group from $60.50 to $62.38 and gave the company a “buy” rating in a research report on Friday, October 20th. Morgan Stanley upgraded shares of InterContinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 29th. Finally, Credit Suisse Group upgraded shares of InterContinental Hotels Group from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $59.13.

InterContinental Hotels Group (NYSE IHG) traded up $1.73 during mid-day trading on Friday, reaching $68.56. 258,754 shares of the company traded hands, compared to its average volume of 501,776. The company has a current ratio of 0.73, a quick ratio of 0.72 and a debt-to-equity ratio of -1.92. InterContinental Hotels Group has a 52 week low of $48.05 and a 52 week high of $68.61.

Several hedge funds and other institutional investors have recently made changes to their positions in IHG. Arrowstreet Capital Limited Partnership grew its position in shares of InterContinental Hotels Group by 12.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 385,813 shares of the company’s stock valued at $21,424,000 after purchasing an additional 42,491 shares during the period. Atlantic Trust Group LLC acquired a new stake in shares of InterContinental Hotels Group in the third quarter valued at about $2,088,000. Crossmark Global Holdings Inc. acquired a new stake in shares of InterContinental Hotels Group in the third quarter valued at about $1,782,000. Edge Advisors LLC grew its position in shares of InterContinental Hotels Group by 19.6% in the third quarter. Edge Advisors LLC now owns 127,524 shares of the company’s stock valued at $6,744,000 after purchasing an additional 20,891 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of InterContinental Hotels Group by 10.1% in the second quarter. Parametric Portfolio Associates LLC now owns 204,460 shares of the company’s stock valued at $11,354,000 after purchasing an additional 18,768 shares during the period. Institutional investors and hedge funds own 6.26% of the company’s stock.

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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.