Intercontinental Hotels Group (NYSE:IHG) Given New $154.00 Price Target at Sanford C. Bernstein

Intercontinental Hotels Group (NYSE:IHG) had its target price boosted by research analysts at Sanford C. Bernstein from $141.00 to $154.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Sanford C. Bernstein’s target price would indicate a potential upside of 2.73% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Berenberg Bank raised Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Intercontinental Hotels Group currently has an average rating of “Moderate Buy” and a consensus target price of $154.00.

Intercontinental Hotels Group Stock Down 0.2%

IHG stock opened at $149.91 on Friday. The business has a 50 day moving average of $138.62 and a 200-day moving average of $137.33. Intercontinental Hotels Group has a 12-month low of $109.79 and a 12-month high of $151.64.

Institutional Investors Weigh In On Intercontinental Hotels Group

Several institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. boosted its position in Intercontinental Hotels Group by 20.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 439 shares of the company’s stock worth $62,000 after purchasing an additional 76 shares during the period. Compound Planning Inc. raised its position in shares of Intercontinental Hotels Group by 5.4% in the first quarter. Compound Planning Inc. now owns 1,694 shares of the company’s stock valued at $226,000 after purchasing an additional 87 shares during the period. Independent Advisor Alliance lifted its stake in shares of Intercontinental Hotels Group by 0.9% during the 4th quarter. Independent Advisor Alliance now owns 10,577 shares of the company’s stock valued at $1,490,000 after buying an additional 91 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Intercontinental Hotels Group by 72.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock worth $30,000 after buying an additional 91 shares during the period. Finally, Capital International Investors boosted its holdings in Intercontinental Hotels Group by 2.5% in the 4th quarter. Capital International Investors now owns 3,838 shares of the company’s stock worth $544,000 after buying an additional 92 shares during the period. 15.09% of the stock is owned by hedge funds and other institutional investors.

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.