Intercontinental Hotels Group (NYSE:IHG) Sets New 52-Week High – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG)’s share price reached a new 52-week high on Wednesday. The stock traded as high as $181.71 and last traded at $181.33, with a volume of 25,781 shares traded. The stock had previously closed at $180.93.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IHG shares. UBS Group raised Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 target price on the stock in a report on Wednesday, September 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Friday, August 21st. Bank of America reaffirmed a “buy” rating on shares of Intercontinental Hotels Group in a report on Thursday, October 22nd. Finally, Zacks Research upgraded shares of Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Hotels Group currently has an average rating of “Moderate Buy” and an average price target of $179.00.

Intercontinental Hotels Group Price Performance

The stock has a 50-day simple moving average of $162.77 and a two-hundred day simple moving average of $153.54.

Institutional Trading of Intercontinental Hotels Group

Large investors have recently added to or reduced their stakes in the business. WPG Advisers LLC purchased a new stake in Intercontinental Hotels Group during the third quarter valued at approximately $31,000. Integrated Wealth Concepts LLC bought a new stake in shares of Intercontinental Hotels Group during the 2nd quarter valued at $82,000. Fifth Third Bancorp grew its position in shares of Intercontinental Hotels Group by 113.0% during the 3rd quarter. Fifth Third Bancorp now owns 524 shares of the company’s stock valued at $84,000 after acquiring an additional 278 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Intercontinental Hotels Group in the 3rd quarter worth $200,000. Finally, Parallel Advisors LLC increased its stake in shares of Intercontinental Hotels Group by 14.7% in the 1st quarter. Parallel Advisors LLC now owns 1,353 shares of the company’s stock worth $181,000 after purchasing an additional 173 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

Intercontinental Hotels Group Company Profile

InterContinental Hotels Group PLC (IHG) is a global hospitality company that operates, manages and franchises hotels and resorts. Its portfolio spans luxury and premium properties, full-service and select-service hotels, and extended-stay accommodations. IHG’s brands include InterContinental, Six Senses, Regent, Kimpton, Hotel Indigo, voco, Crowne Plaza, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites. The company also operates IHG One Rewards, a loyalty program for guests across its participating brands.