InterContinental Hotels Group PLC (NYSE:IHG) Receives $5,668.75 Average PT from Brokerages

InterContinental Hotels Group PLC (NYSE:IHGGet Rating) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $5,668.75.

IHG has been the subject of several recent analyst reports. StockNews.com initiated coverage on InterContinental Hotels Group in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Citigroup downgraded InterContinental Hotels Group from a “neutral” rating to a “sell” rating in a research note on Friday, September 16th. Finally, JPMorgan Chase & Co. downgraded InterContinental Hotels Group from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of InterContinental Hotels Group by 22.3% during the 2nd quarter. FMR LLC now owns 3,693,785 shares of the company’s stock valued at $199,649,000 after acquiring an additional 674,404 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of InterContinental Hotels Group by 20.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 490,190 shares of the company’s stock valued at $33,735,000 after acquiring an additional 84,613 shares during the last quarter. BlackRock Inc. boosted its position in shares of InterContinental Hotels Group by 6.1% during the 1st quarter. BlackRock Inc. now owns 227,500 shares of the company’s stock valued at $15,657,000 after acquiring an additional 13,017 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in InterContinental Hotels Group during the 2nd quarter valued at $11,702,000. Finally, Dimensional Fund Advisors LP raised its holdings in InterContinental Hotels Group by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 154,028 shares of the company’s stock valued at $7,487,000 after buying an additional 4,585 shares during the period. 4.74% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Stock Performance

IHG stock opened at $57.45 on Friday. InterContinental Hotels Group has a 1-year low of $47.06 and a 1-year high of $71.71. The business has a 50 day simple moving average of $52.83 and a two-hundred day simple moving average of $56.27.

InterContinental Hotels Group Company Profile

(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.

Further Reading

Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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