Brokerages Set Intercontinental Hotels Group (IHG) Target Price at $52.60

Intercontinental Hotels Group (NYSE:IHG) has earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $52.60.

Several analysts have recently weighed in on IHG shares. Zacks Investment Research raised Intercontinental Hotels Group from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. Bank of America Corporation lifted their price objective on Intercontinental Hotels Group from $60.50 to $62.38 and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, BidaskClub lowered Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Friday, August 11th.

A number of institutional investors and hedge funds have recently modified their holdings of IHG. Freestone Capital Holdings LLC bought a new position in Intercontinental Hotels Group in the 2nd quarter valued at $8,207,000. Arrowstreet Capital Limited Partnership raised its position in Intercontinental Hotels Group by 12.4% in the 2nd 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 last quarter. Crossmark Global Holdings Inc. bought a new position in Intercontinental Hotels Group in the 3rd quarter valued at $1,782,000. Parametric Portfolio Associates LLC raised its position in Intercontinental Hotels Group by 10.1% in the 2nd 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 last quarter. Finally, Russell Investments Group Ltd. bought a new position in Intercontinental Hotels Group in the 1st quarter valued at $533,000. Hedge funds and other institutional investors own 6.57% of the company’s stock.

Intercontinental Hotels Group (NYSE IHG) traded up 0.49% during midday trading on Friday, hitting $55.30. The company had a trading volume of 63,707 shares. The company has a market cap of $10.84 billion, a P/E ratio of 24.80 and a beta of 1.36. Intercontinental Hotels Group has a one year low of $39.82 and a one year high of $57.80. The company’s 50 day moving average is $52.60 and its 200-day moving average is $53.97.

The business also recently announced a special dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 1st were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, August 30th.

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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.

Analyst Recommendations for Intercontinental Hotels Group (NYSE:IHG)

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