Intercontinental Hotels Group (NYSE:IHG) Given New $195.00 Price Target at Jefferies Financial Group

Intercontinental Hotels Group (NYSE:IHG) had its price objective boosted by Jefferies Financial Group from $160.00 to $195.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 12.75% from the stock’s current price.

Several other equities research analysts also recently commented on the company. Sanford C. Bernstein upped their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a report on Friday, May 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Intercontinental Hotels Group presently has an average rating of “Moderate Buy” and a consensus target price of $174.50.

Intercontinental Hotels Group Stock Performance

Shares of IHG traded down $1.19 during trading hours on Friday, hitting $172.94. 146,012 shares of the company were exchanged, compared to its average volume of 251,347. The firm has a fifty day simple moving average of $155.13 and a 200-day simple moving average of $144.17. Intercontinental Hotels Group has a one year low of $113.32 and a one year high of $175.89.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. CCLA Investment Management purchased a new stake in Intercontinental Hotels Group in the 4th quarter worth about $114,306,000. CIBC Bancorp USA Inc. purchased a new position in Intercontinental Hotels Group during the 3rd quarter valued at about $42,374,000. Lord Abbett & CO. LLC acquired a new position in shares of Intercontinental Hotels Group in the 4th quarter valued at about $26,758,000. Lazard Asset Management LLC lifted its position in shares of Intercontinental Hotels Group by 98.4% in the second quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock worth $41,044,000 after purchasing an additional 176,502 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Intercontinental Hotels Group by 55.6% in the first 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 in the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

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.