Intercontinental Hotels Group (NYSE:IHG) Stock Has Average Target Price of $179.00

Intercontinental Hotels Group (NYSE:IHG – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $179.00.

Several equities research analysts recently commented on IHG shares. Bank of America reissued a “buy” rating on shares of Intercontinental Hotels Group in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Friday, August 21st. Zacks Research raised shares of Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Finally, UBS Group upgraded shares of Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 target price for the company in a report on Wednesday, September 2nd.

Read Our Latest Stock Analysis on IHG

Intercontinental Hotels Group Trading Down 3.3%

Shares of Intercontinental Hotels Group stock opened at $162.28 on Thursday. The company has a 50-day moving average of $160.10 and a 200 day moving average of $157.80. Intercontinental Hotels Group has a 1 year low of $120.16 and a 1 year high of $175.89.

Intercontinental Hotels Group Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, October 1st. Investors of record on Friday, August 21st were paid a $0.6450 dividend. This represents a dividend yield of 81.0%. The ex-dividend date was Friday, August 21st. This is a decrease from Intercontinental Hotels Group’s previous dividend of $1.2590.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IHG. ABC Arbitrage SA boosted its holdings in Intercontinental Hotels Group by 31.0% in the first quarter. ABC Arbitrage SA now owns 134,259 shares of the company’s stock worth $17,918,000 after acquiring an additional 31,754 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Intercontinental Hotels Group by 179.7% during the second quarter. TD Waterhouse Canada Inc. now owns 16,306 shares of the company’s stock valued at $2,747,000 after acquiring an additional 10,476 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Intercontinental Hotels Group during the second quarter valued at $3,259,000. Corient Private Wealth LP raised its position in shares of Intercontinental Hotels Group by 254.6% in the 2nd quarter. Corient Private Wealth LP now owns 11,436 shares of the company’s stock worth $1,980,000 after purchasing an additional 8,211 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Intercontinental Hotels Group by 55.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock worth $54,261,000 after purchasing an additional 145,360 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Key Intercontinental Hotels Group News

Here are the key news stories impacting Intercontinental Hotels Group this week:

Intercontinental Hotels Group Company Profile

(Get Free Report)

InterContinental Hotels Group PLC (NYSE: IHG) is a global hospitality company that owns, manages, franchises and licenses a portfolio of hotel brands. Its brands include InterContinental, Regent, Six Senses, Kimpton, Crowne Plaza, voco, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, avid hotels and Garner.

IHG serves business and leisure travelers across a broad range of lodging segments, from luxury and lifestyle hotels to full-service, upscale, midscale and extended-stay accommodations.

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Analyst Recommendations for Intercontinental Hotels Group (NYSE:IHG)

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