InterContinental Hotels Group PLC (LON:IHG) dropped 0% on Tuesday . The company traded as low as GBX 4,361 ($57.36) and last traded at GBX 4,299 ($56.54). Approximately 429,125 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 588,024 shares. The stock had previously closed at GBX 4,299 ($56.54).
IHG has been the subject of a number of research reports. Barclays PLC reaffirmed an “equal weight” rating and issued a GBX 4,000 ($52.61) price objective on shares of InterContinental Hotels Group PLC in a research note on Thursday, July 13th. J P Morgan Chase & Co lifted their price objective on InterContinental Hotels Group PLC from GBX 3,415 ($44.92) to GBX 3,450 ($45.38) and gave the company an “underweight” rating in a research note on Monday, July 31st. Deutsche Bank AG lifted their price objective on InterContinental Hotels Group PLC from GBX 3,500 ($46.03) to GBX 4,000 ($52.61) and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Numis Securities Ltd reaffirmed a “hold” rating and issued a GBX 4,200 ($55.24) price objective on shares of InterContinental Hotels Group PLC in a research note on Tuesday, August 8th. Finally, Liberum Capital reaffirmed a “hold” rating and issued a GBX 4,600 ($60.50) price objective on shares of InterContinental Hotels Group PLC in a research note on Tuesday, August 8th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of GBX 3,952.50 ($51.99).
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About InterContinental Hotels Group PLC
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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