Intercontinental Hotels Group (NYSE:IHG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Intercontinental Hotels Group (NYSE:IHG) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company.

Several research analysts recently issued reports on IHG shares. Wall Street Zen cut shares of Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Thursday. Morgan Stanley raised Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, October 1st. Jefferies Financial Group upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. Finally, Berenberg Bank raised Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th.

Intercontinental Hotels Group Stock Performance

IHG stock opened at $138.42 on Tuesday. The company has a fifty day moving average of $136.96 and a 200-day moving average of $126.88. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $144.96.

Institutional Trading of Intercontinental Hotels Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CCLA Investment Management purchased a new stake in Intercontinental Hotels Group during the fourth quarter worth about $114,306,000. Goldman Sachs Group Inc. boosted its stake in shares of Intercontinental Hotels Group by 2.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock worth $73,310,000 after acquiring an additional 16,461 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Intercontinental Hotels Group by 0.8% during the 3rd quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock worth $60,835,000 after acquiring an additional 4,080 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Intercontinental Hotels Group by 29.5% in the 3rd quarter. Lazard Asset Management LLC now owns 460,897 shares of the company’s stock worth $55,888,000 after acquiring an additional 105,034 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Intercontinental Hotels Group by 125.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock valued at $52,113,000 after purchasing an additional 251,647 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

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.