InterContinental Hotels Group (NYSE:IHG) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of InterContinental Hotels Group (NYSE:IHGGet Rating) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels. “

Several other research analysts also recently commented on the company. BNP Paribas raised InterContinental Hotels Group from a neutral rating to an outperform rating and set a $5,800.00 target price on the stock in a report on Monday, February 28th. Exane BNP Paribas raised InterContinental Hotels Group from a neutral rating to an outperform rating and set a GBX 5,800 ($75.46) target price on the stock in a report on Monday, February 28th. Kepler Capital Markets raised InterContinental Hotels Group from a hold rating to a buy rating and boosted their target price for the stock from GBX 5,200 ($67.66) to GBX 5,400 ($70.26) in a report on Monday, March 14th. StockNews.com began coverage on InterContinental Hotels Group in a report on Thursday, March 31st. They issued a buy rating on the stock. Finally, UBS Group boosted their target price on InterContinental Hotels Group from GBX 5,575 ($72.53) to GBX 5,675 ($73.84) in a report on Thursday, February 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $4,550.80.

NYSE IHG opened at $68.91 on Tuesday. The stock’s 50 day moving average is $67.88 and its two-hundred day moving average is $67.02. InterContinental Hotels Group has a 1-year low of $58.74 and a 1-year high of $73.79.

The company also recently declared a — dividend, which will be paid on Tuesday, May 17th. Stockholders of record on Friday, April 1st will be issued a $0.859 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, March 31st.

Several hedge funds have recently made changes to their positions in IHG. Rockefeller Capital Management L.P. grew its holdings in shares of InterContinental Hotels Group by 769.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 600 shares of the company’s stock valued at $38,000 after buying an additional 531 shares during the period. National Bank of Canada FI acquired a new position in shares of InterContinental Hotels Group in the 4th quarter valued at $47,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in InterContinental Hotels Group in the 3rd quarter valued at $67,000. AdvisorShares Investments LLC lifted its position in InterContinental Hotels Group by 25.8% in the 3rd quarter. AdvisorShares Investments LLC now owns 1,328 shares of the company’s stock valued at $85,000 after acquiring an additional 272 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its position in InterContinental Hotels Group by 471.4% in the 3rd quarter. Moors & Cabot Inc. now owns 20,243 shares of the company’s stock valued at $95,000 after acquiring an additional 16,700 shares in the last quarter. 11.60% of the stock is owned by institutional investors.

About InterContinental Hotels Group (Get Rating)

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 under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, EVEN Hotels, HUALUXE, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, avid, Staybridge Suites, Atwell Suites, Candlewood Suites, voco, and Crowne Plaza.

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