Intercontinental Hotels Group (NYSE:IHG) has been given an average recommendation of “Hold” by the ten analysts that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $44.00.
Several analysts have commented on the stock. Zacks Investment Research cut shares of Intercontinental Hotels Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. BidaskClub cut shares of Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Morgan Stanley cut shares of Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 15th. Credit Suisse Group cut shares of Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a research note on Monday, June 19th. They noted that the move was a valuation call. Finally, Bank of America Corporation reiterated a “buy” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, July 25th.
Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in shares of Intercontinental Hotels Group by 21.6% during the second quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock worth $100,000 after buying an additional 322 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Intercontinental Hotels Group in the first quarter valued at about $207,000. FCA Corp TX purchased a new stake in shares of Intercontinental Hotels Group in the first quarter valued at about $221,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Intercontinental Hotels Group in the second quarter valued at about $233,000. Finally, CIBC World Markets Inc. grew its holdings in shares of Intercontinental Hotels Group by 20.1% in the first quarter. CIBC World Markets Inc. now owns 5,662 shares of the company’s stock valued at $277,000 after purchasing an additional 948 shares during the period. 6.70% of the stock is owned by institutional investors and hedge funds.
Shares of Intercontinental Hotels Group (IHG) traded up 0.42% during mid-day trading on Thursday, hitting $49.73. 70,082 shares of the stock were exchanged. The company has a market cap of $9.75 billion, a P/E ratio of 22.30 and a beta of 1.36. The stock’s 50-day moving average price is $52.79 and its 200-day moving average price is $53.26. Intercontinental Hotels Group has a 52-week low of $39.84 and a 52-week high of $57.80.
The firm also recently announced a special dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, August 30th.
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About Intercontinental Hotels Group
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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