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

Shares of Intercontinental Hotels Group (NYSE:IHG) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $179.00.

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, June 26th. UBS Group upgraded 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 report on Wednesday. Zacks Research raised shares of Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. Finally, 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 research note on Friday, May 15th.

Intercontinental Hotels Group Stock Performance

IHG stock opened at $160.01 on Wednesday. The company’s 50 day moving average is $161.35 and its 200 day moving average is $151.89. 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 disclosed a dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, August 21st will be issued a $0.645 dividend. This represents a dividend yield of 81.0%. The ex-dividend date is Friday, August 21st.

Hedge Funds Weigh In On Intercontinental Hotels Group

Several institutional investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. raised its stake in shares of Intercontinental Hotels Group by 178.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock worth $25,000 after acquiring an additional 116 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in 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 valued at $28,000 after purchasing an additional 189 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of Intercontinental Hotels Group by 72.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock valued at $30,000 after buying an additional 91 shares during the period. Fifth Third Bancorp grew its holdings 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 acquiring an additional 111 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in Intercontinental Hotels Group by 525.6% in the fourth 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.

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.