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

Key Points

• Intercontinental Hotels Group has a “Moderate Buy” consensus rating from seven analysts, with three buys, three holds and one strong buy. The average 12-month price target is $179, compared with a reported share price of $158.10.
• Recent analyst actions have generally been positive: Jefferies raised its target to $195, while UBS upgraded IHG to “buy” with a $188 target.
• Institutional ownership stands at 15.09%, with several investment firms increasing their stakes. IHG also cut its dividend to $0.645 per share from $1.259.

Shares of Intercontinental Hotels Group (NYSE:IHG - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seven research firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $179.00.

IHG has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Weiss Ratings restated a "buy (b)" rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. UBS Group raised shares of Intercontinental Hotels Group from a "neutral" rating to a "buy" rating and set a $188.00 target price on the stock in a research note on Wednesday, September 2nd. Finally, Zacks Research upgraded shares of Intercontinental Hotels Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 26th.

Institutional Trading of Intercontinental Hotels Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its stake in shares of Intercontinental Hotels Group by 55.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company's stock valued at $54,261,000 after purchasing an additional 145,360 shares during the period. Renaissance Technologies LLC boosted its position in shares of Intercontinental Hotels Group by 198.5% in the 1st quarter. Renaissance Technologies LLC now owns 60,600 shares of the company's stock worth $8,088,000 after purchasing an additional 40,300 shares during the last quarter. ABC Arbitrage SA grew its stake in shares of Intercontinental Hotels Group by 31.0% during the first quarter. ABC Arbitrage SA now owns 134,259 shares of the company's stock worth $17,918,000 after purchasing an additional 31,754 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Intercontinental Hotels Group during the second quarter worth $3,259,000. Finally, Quantinno Capital Management LP increased its holdings in Intercontinental Hotels Group by 25.0% in 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 last quarter. Institutional investors own 15.09% of the company's stock.

Intercontinental Hotels Group Stock Up 0.3%

Shares of IHG opened at $158.10 on Friday. Intercontinental Hotels Group has a 12-month low of $118.47 and a 12-month high of $175.89. The stock's fifty day simple moving average is $158.24 and its 200-day simple moving average is $153.44.

Intercontinental Hotels Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 21st will be paid a $0.6450 dividend. The ex-dividend date of this dividend is Friday, August 21st. This is a drop from Intercontinental Hotels Group's previous dividend of $1.2590. This represents a yield of 81.0%.

About Intercontinental Hotels Group

InterContinental Hotels Group PLC NYSE: IHG, commonly known as IHG Hotels & Resorts, is a global hospitality company that develops, manages, franchises and licenses hotels and resorts. Its portfolio spans luxury, upscale, midscale and extended-stay segments, serving business and leisure travelers in markets around the world.

IHG's brand portfolio includes InterContinental, Regent, Six Senses, Vignette Collection, Kimpton, Hotel Indigo, voco, Crowne Plaza, Holiday Inn, Holiday Inn Express, Garner, avid hotels, Candlewood Suites and Staybridge Suites.

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