InterContinental Lodges Group (NYSE:IHG) Upgraded to “Maintain” at Zacks Funding Analysis

InterContinental Hotels Group (NYSE:IHG – GetRating) what upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels.”

Several other brokerages also recently commented on IHG. Kepler Capital Markets raised shares of InterContinental Hotels Group from a “hold” rating to a “buy” rating and upped their target price for the company from GBX 5,200 ($67.62) to GBX 5,400 ($70.22) in a research note on Monday. StockNews.com Raised shares of InterContinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 23rd. BNP Paribas raised shares in InterContinental Hotels Group from a “neutral” rating to an “outperform” rating and set a $5,800.00 target price for the company in a research note on Monday, February 28th. UBS Group upped their target price on shares in InterContinental Hotels Group from GBX 5,575 ($72.50) to GBX 5,675 ($73.80) in a research note on Thursday, February 24th. Finally, Exane BNP Paribas raised shares of InterContinental Hotels Group from a “neutral” rating to an “outperform” rating and set a GBX 5,800 ($75.42) target price for the company in a research note on Monday, February 28th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $4,550.80.

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Shares of IHG traded up $0.87 on Friday, reaching $70.37. 98,323 shares of the company’s stock were exchanged, compared to its average volume of 180,493. The business has a 50 day moving average price of $67.26 and a two hundred day moving average price of $66.38. InterContinental Hotels Group has a 12 month low of $58.74 and a 12 month high of $73.79.

Institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC increased its stake in InterContinental Hotels Group by 32.2% during the 4th quarter. Parametric Portfolio Associates LLC now owns 518,033 shares of the company’s stock valued at $33,781,000 after purchasing an additional 126,202 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in InterContinental Hotels Group by 7.9% in the 3rd quarter. Goldman Sachs Group Inc. now owns 433,287 shares of the company’s stock valued at $27,856,000 after acquiring an additional 31,567 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of InterContinental Hotels Group by 40.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 391,765 shares of the company’s stock valued at $25,546,000 after buying an additional 112,555 shares during the period. Royal Bank of Canada increased its position in shares of InterContinental Hotels Group by 8.5% during the third quarter. Royal Bank of Canada now owns 286,786 shares of the company’s stock valued at $18,439,000 after buying an additional 22,541 shares during the period. Finally, Millennium Management LLC increased its position in shares of InterContinental Hotels Group by 14.9% in the fourth quarter. Millennium Management LLC now owns 260,692 shares of the company’s stock worth $17,000,000 after purchasing an additional 33,767 shares during the last quarter. Hedge funds and other institutional investors own 11.60% of the company’s stock.

InterContinental Hotels Group Company Profile (GetRating)

InterContinental Hotels Group Plc owns and operates hotels. The firm’s hotel brands include: InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, EVEN Hotels, IHG Rewards Club, Kimpton and HUALUXE Hotels and Resorts. It operates through the following segments: Europe, Middle East, Asia and Africa, Americas, Greater China and Central.

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