Intercontinental Hotels Group (NYSE:IHG) Stock Has Average Target Price of $179.00

Key Points

• Analysts hold a moderately bullish view of IHG: Six brokerages give the stock a consensus “Moderate Buy” rating, with an average 12-month price target of $179. Recent targets range from $188 at UBS to $195 at Jefferies.
• IHG shares opened at $171.25, near their 52-week high of $175.89 and above both the 50-day and 200-day moving averages.
• The company reduced its dividend to $0.645 per share from $1.259 previously, while institutional investors own 15.09% of the stock and several hedge funds increased their holdings.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report) has been given an average rating of "Moderate Buy" by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $179.00.

Several equities research analysts recently commented on the company. UBS Group upgraded Intercontinental Hotels Group from a "neutral" rating to a "buy" rating and set a $188.00 target price on the stock in a research report on Wednesday, September 2nd. Zacks Research raised Intercontinental Hotels Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Intercontinental Hotels Group in a report on Friday, August 21st. Finally, Jefferies Financial Group boosted 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 stock opened at $171.25 on Thursday. The stock has a 50-day moving average price of $159.89 and a 200-day moving average price of $157.53. Intercontinental Hotels Group has a 1-year low of $120.16 and a 1-year high of $175.89.

Intercontinental Hotels Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, August 21st were given a dividend of $0.6450 per share. This is a negative change from Intercontinental Hotels Group's previous dividend of $1.2590. The ex-dividend date of this dividend was Friday, August 21st. This represents a dividend yield of 81.0%.

Institutional Trading of Intercontinental Hotels Group

Hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its stake in Intercontinental Hotels Group by 55.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company's stock worth $54,261,000 after acquiring an additional 145,360 shares in the last quarter. Renaissance Technologies LLC increased its stake in Intercontinental Hotels Group by 198.5% in the first quarter. Renaissance Technologies LLC now owns 60,600 shares of the company's stock valued at $8,088,000 after purchasing an additional 40,300 shares in the last quarter. ABC Arbitrage SA increased its stake in Intercontinental Hotels Group by 31.0% in the first quarter. ABC Arbitrage SA now owns 134,259 shares of the company's stock valued at $17,918,000 after purchasing an additional 31,754 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Intercontinental Hotels Group in the second quarter valued at $3,259,000. Finally, Quantinno Capital Management LP raised its holdings in shares of Intercontinental Hotels Group by 25.0% during the first quarter. Quantinno Capital Management LP now owns 93,268 shares of the company's stock valued at $12,448,000 after purchasing an additional 18,631 shares during the period. Institutional investors own 15.09% of the company's stock.

About Intercontinental Hotels Group

InterContinental Hotels Group PLC NYSE: IHG is a global hospitality company that owns, manages, franchises and licenses a portfolio of hotel brands. Its brands include InterContinental, Regent, Six Senses, Kimpton, Crowne Plaza, voco, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, avid hotels and Garner.

IHG serves business and leisure travelers across a broad range of lodging segments, from luxury and lifestyle hotels to full-service, upscale, midscale and extended-stay accommodations.

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