Intercontinental Hotels Group (NYSE:IHG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Intercontinental Hotels Group (NYSE:IHG) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company.

A number of equities analysts have recently weighed in on IHG shares. Jefferies Financial Group raised Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Friday, December 12th. Wall Street Zen cut Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Berenberg Bank upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd.

Institutional Investors Weigh In On Intercontinental Hotels Group

Hedge funds have recently made changes to their positions in the business. CCLA Investment Management acquired a new position in Intercontinental Hotels Group in the fourth quarter valued at $114,306,000. Morgan Stanley grew its holdings in Intercontinental Hotels Group by 3.9% in the 4th quarter. Morgan Stanley now owns 764,049 shares of the company’s stock valued at $107,601,000 after buying an additional 28,526 shares during the period. Goldman Sachs Group Inc. grew its holdings in Intercontinental Hotels Group by 1.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company’s stock valued at $100,006,000 after buying an additional 9,235 shares during the period. Bank of America Corp DE increased its stake in shares of Intercontinental Hotels Group by 0.8% during the 3rd quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock valued at $60,835,000 after acquiring an additional 4,080 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Intercontinental Hotels Group by 3.9% during the 4th quarter. Natixis Advisors LLC now owns 465,747 shares of the company’s stock worth $65,591,000 after acquiring an additional 17,503 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Stock Performance

Shares of Intercontinental Hotels Group stock opened at $146.03 on Friday. Intercontinental Hotels Group has a 1 year low of $94.78 and a 1 year high of $150.89. The business has a 50 day moving average price of $140.09 and a 200 day moving average price of $129.57.

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.