Intercontinental Hotels Group (NYSE:IHG) Receives $174.50 Average Price Target from Brokerages

Shares of Intercontinental Hotels Group (NYSE:IHG) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $174.50.

A number of analysts have commented on IHG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. Jefferies Financial Group lifted their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Zacks Research downgraded Intercontinental Hotels Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Finally, Sanford C. Bernstein increased their price target on 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.

Intercontinental Hotels Group Trading Up 0.3%

Shares of NYSE IHG opened at $160.03 on Friday. The company has a 50-day moving average price of $163.71 and a 200-day moving average price of $149.84. Intercontinental Hotels Group has a 1 year low of $117.29 and a 1 year high of $175.89.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 21st will be issued a dividend of $0.645 per share. The ex-dividend date is Friday, August 21st. This represents a yield of 83.0%.

Hedge Funds Weigh In On Intercontinental Hotels Group

Hedge funds have recently modified their holdings of the company. Gradient Investments LLC lifted its holdings in Intercontinental Hotels Group by 4.2% during the second quarter. Gradient Investments LLC now owns 38,964 shares of the company’s stock worth $6,745,000 after acquiring an additional 1,560 shares during the period. Baron Wealth Management LLC bought a new position in Intercontinental Hotels Group in the 2nd quarter valued at $236,000. GAMMA Investing LLC increased its position in shares of Intercontinental Hotels Group by 3.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $348,000 after purchasing an additional 70 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Intercontinental Hotels Group by 4.7% during the 1st quarter. NewEdge Advisors LLC now owns 8,207 shares of the company’s stock valued at $1,095,000 after purchasing an additional 369 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of Intercontinental Hotels Group by 25.0% during the 1st quarter. Quantinno Capital Management LP now owns 93,268 shares of the company’s stock worth $12,448,000 after purchasing an additional 18,631 shares during the period. Institutional investors own 15.09% of the company’s stock.

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.