Intercontinental Hotels Group (NYSE:IHG) Sets New 12-Month High – Still a Buy?

Shares of Intercontinental Hotels Group (NYSE:IHG) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $164.46 and last traded at $163.2880, with a volume of 191046 shares changing hands. The stock had previously closed at $162.15.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IHG. Sanford C. Bernstein lifted 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 report on Friday, May 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.00.

Intercontinental Hotels Group Stock Performance

The stock’s 50-day moving average price is $147.98 and its 200-day moving average price is $141.37.

Institutional Investors Weigh In On Intercontinental Hotels Group

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

Intercontinental Hotels Group Company Profile

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.