Intercontinental Hotels Group (NYSE:IHG) Reaches New 1-Year High – Still a Buy?

Intercontinental Hotels Group (NYSE:IHG) shares reached a new 52-week high on Wednesday . The stock traded as high as $137.33 and last traded at $137.0340, with a volume of 43784 shares. The stock had previously closed at $135.18.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IHG. Morgan Stanley raised Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Wednesday, October 8th. Wall Street Zen downgraded Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, JPMorgan Chase & Co. upgraded Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Intercontinental Hotels Group Stock Down 1.1%

The firm’s fifty day moving average price is $126.20 and its 200-day moving average price is $121.09.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in shares of Intercontinental Hotels Group by 219.5% in the 1st quarter. Brooklyn Investment Group now owns 246 shares of the company’s stock worth $27,000 after purchasing an additional 169 shares during the last quarter. Hilltop National Bank bought a new position in shares of Intercontinental Hotels Group in the second quarter valued at $41,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Intercontinental Hotels Group by 42.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock valued at $50,000 after acquiring an additional 129 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Intercontinental Hotels Group by 136.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 473 shares of the company’s stock worth $57,000 after acquiring an additional 273 shares in the last quarter. Finally, Aviso Financial Inc. acquired a new position in shares of Intercontinental Hotels Group in the 1st quarter worth $66,000. 15.09% of the stock is owned by institutional investors and hedge funds.

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 under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.