Citigroup Issues Pessimistic Forecast for InterContinental Hotels Group (LON:IHG) Stock Price

InterContinental Hotels Group (LON:IHG) had its price objective cut by equities research analysts at Citigroup from GBX 8,900 ($117.80) to GBX 7,500 ($99.27) in a research report issued on Tuesday, Marketbeat.com reports. The firm currently has a “sell” rating on the stock. Citigroup’s price objective points to a potential downside of 1.88% from the stock’s current price.

IHG has been the subject of several other reports. Jefferies Financial Group reissued a “hold” rating and set a GBX 95 ($1.26) price objective on shares of InterContinental Hotels Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a GBX 7,800 ($103.24) price target on shares of InterContinental Hotels Group in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, InterContinental Hotels Group has an average rating of “Hold” and an average target price of GBX 6,159 ($81.52).

InterContinental Hotels Group Stock Down 1.6 %

IHG opened at GBX 7,644 ($101.18) on Tuesday. The stock’s fifty day moving average is GBX 8,921.41 and its 200-day moving average is GBX 9,252.67. InterContinental Hotels Group has a one year low of GBX 7,032 ($93.08) and a one year high of £109.75 ($145.27). The company has a market capitalization of £15.32 billion, a PE ratio of 25.09, a P/E/G ratio of 1.69 and a beta of 0.98. The company has a debt-to-equity ratio of -162.30, a quick ratio of 1.35 and a current ratio of 0.85.

Insiders Place Their Bets

In related news, insider Byron Elmer Grote purchased 400 shares of InterContinental Hotels Group stock in a transaction on Friday, February 21st. The stock was bought at an average price of £127.25 ($168.43) per share, with a total value of £50,900 ($67,372.60). Insiders own 5.99% of the company’s stock.

InterContinental Hotels Group Company Profile

Our presence
IHG® Hotels & Resorts is a global hospitality company,
with 19 hotel brands, one of the industry’s largest
loyalty programmes, over 6,300 open hotels in more
than 100 countries, and a further 1,800 hotels in our
development pipeline.

Our ambition
To deliver industry-leading growth in our scale,
enterprise platform and performance, doing so
sustainably for all stakeholders, including our hotel
owners, guests and society as a whole.

Our strategy
To use our scale and expertise to create the
exceptional guest experiences and owner returns
needed to grow our brands in the industry’s most
valuable markets and segments.