Intercontinental Hotels Group (NYSE:IHG) Raised to Hold at Zacks Research

Intercontinental Hotels Group (NYSE:IHG) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

IHG has been the topic of a number of other research reports. Jefferies Financial Group raised their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a report on Friday, June 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Friday, August 21st. Finally, Sanford C. Bernstein raised their price target on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Hotels Group presently has a consensus rating of “Moderate Buy” and an average target price of $174.50.

Intercontinental Hotels Group Price Performance

IHG stock opened at $163.01 on Wednesday. The company’s 50-day moving average price is $162.80 and its two-hundred day moving average price is $151.34. Intercontinental Hotels Group has a 12 month low of $117.29 and a 12 month high of $175.89.

Institutional Trading of Intercontinental Hotels Group

A number of institutional investors and hedge funds have recently bought and sold shares of IHG. Brown Brothers Harriman & Co. raised its position in Intercontinental Hotels Group by 178.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock worth $25,000 after purchasing an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Intercontinental Hotels Group by 1,453.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock valued at $28,000 after buying an additional 189 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Intercontinental Hotels Group by 111.0% in the fourth quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock valued at $30,000 after buying an additional 111 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Intercontinental Hotels Group by 72.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock worth $30,000 after acquiring an additional 91 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of Intercontinental Hotels Group by 525.6% during the fourth quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock worth $38,000 after acquiring an additional 226 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

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.