Shares of Intercontinental Hotels Group (NYSE:IHG – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $174.50.
IHG has been the topic of a number of recent analyst reports. Sanford C. Bernstein raised their target price on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a research note on Friday, May 15th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, May 26th. Finally, Jefferies Financial Group boosted their price objective on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, June 26th.
View Our Latest Stock Report on IHG
Intercontinental Hotels Group Stock Down 1.0%
Hedge Funds Weigh In On Intercontinental Hotels Group
Several hedge funds have recently added to or reduced their stakes in the company. CCLA Investment Management purchased a new position in Intercontinental Hotels Group in the fourth quarter valued at about $114,306,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Intercontinental Hotels Group during the third quarter valued at about $42,374,000. Lord Abbett & CO. LLC bought a new stake in shares of Intercontinental Hotels Group in the 4th quarter valued at about $26,758,000. Lazard Asset Management LLC grew its position in shares of Intercontinental Hotels Group by 98.4% in the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock worth $41,044,000 after buying an additional 176,502 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Intercontinental Hotels Group by 55.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock worth $54,261,000 after buying an additional 145,360 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors.
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.
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