InterContinental Hotels Group (NYSE:IHG) Research Coverage Started at Peel Hunt

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Peel Hunt assumed coverage on shares of InterContinental Hotels Group (NYSE:IHG) in a research report released on Friday, The Fly reports. The brokerage issued a buy rating on the stock.

A number of other research firms have also recently weighed in on IHG. Zacks Investment Research increased their price objective on InterContinental Hotels Group to $55.00 in a research report on Thursday, June 4th. Royal Bank of Canada raised InterContinental Hotels Group from a sector perform rating to an outperform rating in a research note on Wednesday, April 1st. Deutsche Bank reissued a buy rating on shares of InterContinental Hotels Group in a research note on Monday, May 4th. UBS Group raised InterContinental Hotels Group from a sell rating to a neutral rating in a research note on Thursday, March 12th. Finally, HSBC reissued a hold rating on shares of InterContinental Hotels Group in a research note on Tuesday, June 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $55.00.

InterContinental Hotels Group stock opened at $45.22 on Friday. InterContinental Hotels Group has a twelve month low of $25.39 and a twelve month high of $71.02. The stock has a 50 day moving average of $46.99 and a two-hundred day moving average of $52.70. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 13.16 and a beta of 1.24.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its stake in InterContinental Hotels Group by 131.0% in the 4th quarter. Citigroup Inc. now owns 6,763 shares of the company’s stock valued at $464,000 after purchasing an additional 3,835 shares in the last quarter. Jarislowsky Fraser Ltd purchased a new position in InterContinental Hotels Group in the 4th quarter valued at approximately $457,000. Credit Suisse AG purchased a new position in InterContinental Hotels Group in the 4th quarter valued at approximately $23,739,000. Ferguson Wellman Capital Management Inc. increased its stake in InterContinental Hotels Group by 3.7% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 172,434 shares of the company’s stock valued at $7,268,000 after purchasing an additional 6,144 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in InterContinental Hotels Group by 41.0% in the 4th quarter. Bank of America Corp DE now owns 15,049 shares of the company’s stock valued at $1,033,000 after purchasing an additional 4,377 shares in the last quarter. 4.74% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Company Profile

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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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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