InterContinental Hotels Group PLC (IHG) Given Average Recommendation of “Hold” by Analysts
Shares of InterContinental Hotels Group PLC (NYSE:IHG) have been given a consensus rating of “Hold” by the eight analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $66.00.
IHG has been the topic of a number of research analyst reports. Zacks Investment Research downgraded InterContinental Hotels Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Citigroup lowered InterContinental Hotels Group from a “neutral” rating to a “sell” rating in a research note on Monday, September 3rd. Finally, Raymond James lowered InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, September 4th.
Several institutional investors have recently made changes to their positions in IHG. UBS Group AG boosted its stake in InterContinental Hotels Group by 238.8% during the 1st quarter. UBS Group AG now owns 2,175 shares of the company’s stock valued at $133,000 after purchasing an additional 1,533 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of InterContinental Hotels Group in the third quarter worth $188,000. CIBC World Markets Inc. acquired a new stake in shares of InterContinental Hotels Group in the second quarter worth $202,000. PNC Financial Services Group Inc. boosted its position in shares of InterContinental Hotels Group by 149.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,332 shares of the company’s stock worth $273,000 after buying an additional 2,598 shares during the period. Finally, Advisory Services Network LLC raised its holdings in shares of InterContinental Hotels Group by 35.7% during the third quarter. Advisory Services Network LLC now owns 5,418 shares of the company’s stock worth $340,000 after acquiring an additional 1,425 shares in the last quarter. Institutional investors and hedge funds own 6.85% of the company’s stock.
About InterContinental Hotels Group
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, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, and Candlewood Suites brands.
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