Intercontinental Hotels Group (NYSE:IHG) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Intercontinental Hotels Group from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a $174.50 price target.
• IHG shares opened at $163.01, down 1.0%, and were trading between a 52-week range of $117.29 to $175.89.
• Institutional investors increased their holdings in IHG, with hedge funds and institutions collectively owning 15.09% of the company’s stock.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Wednesday,Zacks.com reports.

IHG has been the subject of a number of other research reports. Sanford C. Bernstein boosted their target price on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a "market perform" rating in a research note on Friday, May 15th. Jefferies Financial Group raised their price target on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Intercontinental Hotels Group Trading Down 1.0%

NYSE IHG opened at $163.01 on Wednesday. Intercontinental Hotels Group has a 52 week low of $117.29 and a 52 week high of $175.89. The firm has a 50 day moving average of $162.80 and a two-hundred day moving average of $151.34.

Institutional Investors Weigh In On Intercontinental Hotels Group

Several hedge funds and other institutional investors have recently bought and sold shares of IHG. Jones Financial Companies Lllp lifted its position in Intercontinental Hotels Group by 228.2% in the first quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company's stock valued at $531,000 after acquiring an additional 3,368 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Intercontinental Hotels Group by 2.5% during the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company's stock worth $73,310,000 after purchasing an additional 16,461 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Intercontinental Hotels Group by 44.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,518 shares of the company's stock valued at $290,000 after purchasing an additional 780 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Intercontinental Hotels Group by 42.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company's stock worth $50,000 after buying an additional 129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Intercontinental Hotels Group by 56.3% during the second quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company's stock worth $108,000 after buying an additional 336 shares during the period. 15.09% of the stock is currently owned by institutional investors and hedge funds.

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.

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