Intercontinental Hotels Group (NYSE:IHG) Reaches New 12-Month High – What’s Next?

Intercontinental Hotels Group (NYSE:IHG) reached a new 52-week high during trading on Wednesday . The stock traded as high as $174.28 and last traded at $174.4780, with a volume of 41978 shares changing hands. The stock had previously closed at $170.88.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Sanford C. Bernstein increased their price target on shares of 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $154.00.

Intercontinental Hotels Group Stock Performance

The company has a 50 day moving average price of $155.13 and a 200 day moving average price of $144.17.

Hedge Funds Weigh In On Intercontinental Hotels Group

Large investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. boosted its holdings in shares of Intercontinental Hotels Group by 178.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock worth $25,000 after buying an additional 116 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Intercontinental Hotels Group by 1,453.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock valued at $28,000 after acquiring an additional 189 shares during the period. Fifth Third Bancorp lifted its position in Intercontinental Hotels Group by 111.0% during the fourth quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in Intercontinental Hotels Group by 72.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock worth $30,000 after acquiring an additional 91 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Intercontinental Hotels Group by 525.6% during the fourth quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock worth $38,000 after acquiring an additional 226 shares during the period. 15.09% of the stock is owned by institutional investors.

Intercontinental Hotels Group Company Profile

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.