Intercontinental Hotels Group (NYSE:IHG) Receives $174.50 Average Target Price from Analysts

Shares of Intercontinental Hotels Group (NYSE:IHG) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $174.50.

Several brokerages have recently issued reports on IHG. Zacks Research cut shares of Intercontinental Hotels Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Jefferies Financial Group increased their target price on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. Finally, Sanford C. Bernstein lifted 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 research report on Friday, May 15th.

Intercontinental Hotels Group Trading Down 1.3%

Shares of Intercontinental Hotels Group stock opened at $155.52 on Friday. Intercontinental Hotels Group has a 52 week low of $116.22 and a 52 week high of $175.89. The company’s 50-day moving average price is $163.79 and its two-hundred day moving average price is $149.34.

Hedge Funds Weigh In On Intercontinental Hotels Group

Hedge funds have recently modified their holdings of the stock. Gradient Investments LLC lifted its holdings in shares of Intercontinental Hotels Group by 4.2% during the second quarter. Gradient Investments LLC now owns 38,964 shares of the company’s stock valued at $6,745,000 after purchasing an additional 1,560 shares during the last quarter. Baron Wealth Management LLC acquired a new stake in Intercontinental Hotels Group during the 2nd quarter worth about $236,000. GAMMA Investing LLC raised its holdings in Intercontinental Hotels Group by 3.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock worth $348,000 after buying an additional 70 shares during the period. NewEdge Advisors LLC lifted its stake in Intercontinental Hotels Group by 4.7% during the first quarter. NewEdge Advisors LLC now owns 8,207 shares of the company’s stock valued at $1,095,000 after buying an additional 369 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of Intercontinental Hotels Group by 25.0% in the first quarter. Quantinno Capital Management LP now owns 93,268 shares of the company’s stock worth $12,448,000 after buying an additional 18,631 shares during the period. 15.09% of the stock is currently owned by institutional investors and hedge funds.

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.