Intercontinental Hotels Group (NYSE:IHG) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Intercontinental Hotels Group, with three buys, three holds and one strong buy. The average 12-month price target is $174.50.
• IHG opened at $155.47, below its 50-day moving average of $162.10 but above its 200-day average of $151.63; its 52-week trading range is $117.29 to $175.89.
• The company declared a $0.645-per-share dividend payable October 1, while institutional investors own approximately 15.09% of IHG’s outstanding shares.

Shares of Intercontinental Hotels Group (NYSE:IHG - Get Free Report) have been given an average rating of "Moderate Buy" by the seven ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $174.50.

IHG has been the topic of several research reports. Zacks Research raised Intercontinental Hotels Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 26th. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Hotels Group in a research note on Friday, August 21st. Sanford C. Bernstein boosted their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a "market perform" rating in a research report on Friday, May 15th. Finally, Jefferies Financial Group upped 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.

Intercontinental Hotels Group Price Performance

IHG opened at $155.47 on Wednesday. The company's 50 day simple moving average is $162.10 and its 200-day simple moving average is $151.63. Intercontinental Hotels Group has a one year low of $117.29 and a one year high of $175.89.

Intercontinental Hotels Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 21st will be issued a dividend of $0.645 per share. This represents a yield of 81.0%. The ex-dividend date of this dividend is Friday, August 21st.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. raised its stake in shares of Intercontinental Hotels Group by 178.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company's stock worth $25,000 after buying an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Intercontinental Hotels Group by 1,453.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company's stock valued at $28,000 after buying an additional 189 shares during the period. Fifth Third Bancorp boosted its stake in Intercontinental Hotels Group by 111.0% in the fourth quarter. Fifth Third Bancorp now owns 211 shares of the company's stock valued at $30,000 after acquiring an additional 111 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in Intercontinental Hotels Group by 72.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company's stock worth $30,000 after acquiring an additional 91 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in Intercontinental Hotels Group by 525.6% during the 4th quarter. Global Retirement Partners LLC now owns 269 shares of the company's stock worth $38,000 after acquiring an additional 226 shares during the period. Institutional investors 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.

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