Analysts Set InterContinental Hotels Group PLC (IHG) Price Target at $66.00

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Shares of InterContinental Hotels Group PLC (NYSE:IHG) have received a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $66.00.

A number of analysts recently issued reports on the company. UBS Group raised InterContinental Hotels Group from a “sell” rating to a “neutral” rating in a research report on Thursday. Morgan Stanley cut InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Monday, January 7th. Finally, Goldman Sachs Group cut InterContinental Hotels Group from a “buy” rating to a “neutral” rating in a research report on Thursday.

IHG traded up $0.47 during trading on Monday, reaching $56.11. 130,050 shares of the stock traded hands, compared to its average volume of 137,938. InterContinental Hotels Group has a fifty-two week low of $50.84 and a fifty-two week high of $69.23.

Several large investors have recently made changes to their positions in IHG. FMR LLC lifted its position in shares of InterContinental Hotels Group by 17.3% in the third quarter. FMR LLC now owns 5,833,187 shares of the company’s stock worth $366,267,000 after buying an additional 862,100 shares during the last quarter. Capital World Investors bought a new position in shares of InterContinental Hotels Group in the third quarter worth about $8,464,000. Morgan Stanley increased its stake in shares of InterContinental Hotels Group by 254.9% in the third quarter. Morgan Stanley now owns 115,847 shares of the company’s stock worth $7,273,000 after purchasing an additional 83,204 shares during the period. Henry James International Management Inc. bought a new position in shares of InterContinental Hotels Group in the third quarter worth about $4,206,000. Finally, Capital Fund Management S.A. bought a new position in shares of InterContinental Hotels Group in the third quarter worth about $848,000. 6.81% of the stock is owned by institutional investors.

InterContinental Hotels Group Company Profile

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.

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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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