Intercontinental Hotels Group (NYSE:IHG) Sets New 52-Week High – What’s Next?

Intercontinental Hotels Group (NYSE:IHG)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $181.71 and last traded at $181.33, with a volume of 25,781 shares trading hands. The stock had previously closed at $180.93.

Analyst Ratings Changes

A number of research firms have recently commented on IHG. UBS Group raised Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 target price on the stock in a research note on Wednesday, September 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Friday, August 21st. Zacks Research raised Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Finally, Bank of America restated a “buy” rating on shares of Intercontinental Hotels Group in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Hotels Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

Intercontinental Hotels Group Stock Performance

The company’s fifty day moving average is $163.64 and its 200-day moving average is $153.97.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IHG. WPG Advisers LLC acquired a new position in Intercontinental Hotels Group during the 3rd quarter valued at about $31,000. Integrated Wealth Concepts LLC purchased a new position in shares of Intercontinental Hotels Group in the 2nd quarter valued at approximately $82,000. Fifth Third Bancorp boosted its stake in Intercontinental Hotels Group by 113.0% in the 3rd quarter. Fifth Third Bancorp now owns 524 shares of the company’s stock worth $84,000 after purchasing an additional 278 shares in the last quarter. Parallel Advisors LLC boosted its stake in Intercontinental Hotels Group by 14.7% in the 1st quarter. Parallel Advisors LLC now owns 1,353 shares of the company’s stock worth $181,000 after purchasing an additional 173 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Intercontinental Hotels Group in the 3rd quarter worth approximately $200,000. Institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Company Profile

InterContinental Hotels Group PLC (IHG) is a global hospitality company that operates, manages and franchises hotels and resorts. Its portfolio spans luxury and premium properties, full-service and select-service hotels, and extended-stay accommodations. IHG’s brands include InterContinental, Six Senses, Regent, Kimpton, Hotel Indigo, voco, Crowne Plaza, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites. The company also operates IHG One Rewards, a loyalty program for guests across its participating brands.