Intercontinental Hotels Group (NYSE:IHG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Intercontinental Hotels Group (NYSE:IHG) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $174.50.

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein raised their price target on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a report on Friday, May 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. Finally, Jefferies Financial Group raised their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, June 26th.

Hedge Funds Weigh In On Intercontinental Hotels Group

Several hedge funds have recently made changes to their positions in IHG. Brown Brothers Harriman & Co. boosted its holdings in Intercontinental Hotels Group by 178.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock valued at $25,000 after acquiring an additional 116 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Intercontinental Hotels Group by 1,453.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares in the last quarter. Fifth Third Bancorp raised its holdings in Intercontinental Hotels Group by 111.0% in the 4th quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock worth $30,000 after purchasing an additional 111 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Intercontinental Hotels Group by 72.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock worth $30,000 after purchasing an additional 91 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in shares of Intercontinental Hotels Group by 525.6% during the 4th quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock valued at $38,000 after purchasing an additional 226 shares in the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Hotels Group Price Performance

NYSE:IHG opened at $158.12 on Tuesday. Intercontinental Hotels Group has a fifty-two week low of $113.32 and a fifty-two week high of $175.89. The business has a 50 day moving average price of $161.99 and a 200-day moving average price of $147.07.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.