Intercontinental Hotels Group (NYSE:IHG) Sets New 1-Year High – Still a Buy?

Shares of Intercontinental Hotels Group (NYSE:IHG) reached a new 52-week high on Wednesday . The company traded as high as $137.33 and last traded at $137.0340, with a volume of 43784 shares traded. The stock had previously closed at $135.18.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Wednesday, October 8th. Wall Street Zen cut Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Morgan Stanley raised Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. upgraded Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research note on Friday, September 26th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Intercontinental Hotels Group has an average rating of “Hold”.

Intercontinental Hotels Group Stock Up 1.0%

The business has a 50 day simple moving average of $125.48 and a 200 day simple moving average of $120.88.

Institutional Trading of Intercontinental Hotels Group

Several large investors have recently bought and sold shares of IHG. Brooklyn Investment Group raised its holdings in shares of Intercontinental Hotels Group by 219.5% in the first quarter. Brooklyn Investment Group now owns 246 shares of the company’s stock worth $27,000 after buying an additional 169 shares during the last quarter. Hilltop National Bank purchased a new position in Intercontinental Hotels Group in the 2nd quarter worth $41,000. Northwestern Mutual Wealth Management Co. raised its stake in Intercontinental Hotels Group by 42.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock worth $50,000 after acquiring an additional 129 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Intercontinental Hotels Group by 136.5% in the third quarter. Farther Finance Advisors LLC now owns 473 shares of the company’s stock worth $57,000 after purchasing an additional 273 shares during the last quarter. Finally, Aviso Financial Inc. acquired a new stake in shares of Intercontinental Hotels Group during the first quarter worth about $66,000. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Company Profile

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, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.