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

Shares of Intercontinental Hotels Group (NYSE:IHG) have received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $179.00.

A number of equities research analysts recently commented on IHG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. Jefferies Financial Group lifted their price objective 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. Zacks Research raised Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 26th. UBS Group upgraded Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 target price for the company in a research report on Wednesday, September 2nd. Finally, Sanford C. Bernstein raised their target price on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a report on Friday, May 15th.

Institutional Trading of Intercontinental Hotels Group

A number of large investors have recently made changes to their positions in IHG. GAMMA Investing LLC lifted its position in Intercontinental Hotels Group by 3.6% during the second quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $348,000 after acquiring an additional 70 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Intercontinental Hotels Group by 20.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 439 shares of the company’s stock worth $62,000 after purchasing an additional 76 shares during the last quarter. Compound Planning Inc. increased its position in shares of Intercontinental Hotels Group by 5.4% during the first quarter. Compound Planning Inc. now owns 1,694 shares of the company’s stock worth $226,000 after purchasing an additional 87 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of Intercontinental Hotels Group by 0.9% during the 4th quarter. Independent Advisor Alliance now owns 10,577 shares of the company’s stock valued at $1,490,000 after purchasing an additional 91 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted 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 in the last quarter. 15.09% of the stock is currently owned by institutional investors.

Intercontinental Hotels Group Price Performance

IHG opened at $160.01 on Wednesday. The firm has a 50-day simple moving average of $161.35 and a two-hundred day simple moving average of $151.94. Intercontinental Hotels Group has a 52 week low of $117.29 and a 52 week high of $175.89.

Intercontinental Hotels Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 21st will be given a dividend of $0.645 per share. The ex-dividend date is Friday, August 21st. This represents a yield of 81.0%.

Intercontinental Hotels Group Company Profile

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.