Intercontinental Hotels Group (IHG) Given New $62.38 Price Target at Bank of America Corporation

Intercontinental Hotels Group (NYSE:IHG) had its price target raised by Bank of America Corporation from $60.50 to $62.38 in a research report released on Friday. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Intercontinental Hotels Group from a sell rating to a hold rating in a research note on Wednesday, September 20th. BidaskClub lowered shares of Intercontinental Hotels Group from a hold rating to a sell rating in a research note on Friday, August 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $50.13.

Shares of Intercontinental Hotels Group (NYSE:IHG) traded down 1.05% during midday trading on Friday, reaching $53.66. The company’s stock had a trading volume of 80,514 shares. The stock has a 50 day moving average of $52.03 and a 200-day moving average of $53.84. The company has a market capitalization of $10.52 billion, a P/E ratio of 24.06 and a beta of 1.37. Intercontinental Hotels Group has a 1-year low of $39.84 and a 1-year high of $57.80.

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The business also recently disclosed a special dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 1st were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, August 30th.

Several institutional investors have recently bought and sold shares of IHG. Freestone Capital Holdings LLC bought a new position in shares of Intercontinental Hotels Group in the second quarter valued at approximately $8,207,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Intercontinental Hotels Group by 12.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 385,813 shares of the company’s stock valued at $21,424,000 after acquiring an additional 42,491 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Intercontinental Hotels Group by 10.1% in the second quarter. Parametric Portfolio Associates LLC now owns 204,460 shares of the company’s stock valued at $11,354,000 after acquiring an additional 18,768 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of Intercontinental Hotels Group in the first quarter valued at approximately $623,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Intercontinental Hotels Group in the first quarter valued at approximately $533,000. Institutional investors and hedge funds own 6.70% of the company’s stock.

Intercontinental Hotels Group Company Profile

InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.

Analyst Recommendations for Intercontinental Hotels Group (NYSE:IHG)

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