Intercontinental Hotels Group (NYSE:IHG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Intercontinental Hotels Group (NYSE:IHG) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $179.00.

Several equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Jefferies Financial Group boosted their price target on Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. UBS Group raised shares of Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 price objective on the stock in a research note on Wednesday, September 2nd. Sanford C. Bernstein increased their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a report on Friday, May 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Friday, August 21st.

Intercontinental Hotels Group Stock Down 3.3%

Shares of NYSE:IHG opened at $154.64 on Wednesday. Intercontinental Hotels Group has a fifty-two week low of $117.29 and a fifty-two week high of $175.89. The firm’s 50 day moving average price is $160.70 and its 200 day moving average price is $152.08.

Intercontinental Hotels Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 21st will be given a dividend of $0.645 per share. The ex-dividend date is Friday, August 21st. This represents a yield of 81.0%.

Institutional Trading of Intercontinental Hotels Group

A number of hedge funds have recently added to or reduced their stakes in IHG. Lord Abbett & CO. LLC purchased a new stake in shares of Intercontinental Hotels Group during the 4th quarter valued at $26,758,000. Lazard Asset Management LLC boosted its holdings in Intercontinental Hotels Group by 98.4% in the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock worth $41,044,000 after acquiring an additional 176,502 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Intercontinental Hotels Group by 55.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock valued at $54,261,000 after purchasing an additional 145,360 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Intercontinental Hotels Group by 63.1% during the third quarter. Marshall Wace LLP now owns 281,557 shares of the company’s stock valued at $34,142,000 after acquiring an additional 108,935 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Intercontinental Hotels Group by 137.6% during the second quarter. Cubist Systematic Strategies LLC now owns 134,489 shares of the company’s stock valued at $15,512,000 after acquiring an additional 77,883 shares in the last quarter. 15.09% of the stock is 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.