InterContinental Hotels Group (NYSE:IHG) Upgraded to “Hold” at Zacks Investment Research

InterContinental Hotels Group (NYSE: IHG – Get a Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report released Friday, Zacks.com reports.

According to Zacks, “InterContinental Hotels Group offers Internet reservation information and capabilities 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 moved shares of InterContinental Hotels Group from a “hold” rating to a “buy” rating and raised its target price for the company from 5,200 GBX ($67.62) to 5,400 GBX ( $70.22) in a research note on Monday. StockNews.com upgraded InterContinental Hotels Group shares from a “hold” rating to a “buy” rating in a Wednesday, Feb. 23 research note. BNP Paribas upgraded shares of InterContinental Hotels Group from a “neutral” rating to an “outperforming” rating and set a target price of $5,800.00 for the company in a Monday, February 28 research note. UBS Group raised its price target on InterContinental Hotels Group shares from 5,575 GBX ($72.50) to 5,675 GBX ($73.80) in a Thursday, February 24 research note. Finally, Exane BNP Paribas upgraded InterContinental Hotels Group shares from a “neutral” rating to an “outperforming” rating and set a price target of 5,800 GBX ($75.42) for the company in a research note from Monday, February 28. Five research analysts gave the stock a hold rating and eleven gave the stock a buy rating. 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 rose $0.87 on Friday, hitting $70.37. 98,323 shares of the company were traded, against an average volume of 180,493. The company 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 increased or reduced their stake in the company. 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 valued at $33,781,000 after purchasing an additional 126,202 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in InterContinental Hotels Group by 7.9% in the third quarter. Goldman Sachs Group Inc. now owns 433,287 shares of the company valued at $27,856,000 after acquiring 31,567 additional shares during the period. CIBC Private Wealth Group LLC increased its position in InterContinental Hotels Group shares by 40.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 391,765 shares of the company valued at $25,546,000 after purchasing an additional 112,555 shares during the period. Royal Bank of Canada increased its position in InterContinental Hotels Group shares by 8.5% during the third quarter. Royal Bank of Canada now owns 286,786 shares of the company valued at $18,439,000 after purchasing an additional 22,541 shares during the period. Finally, Millennium Management LLC increased its position in InterContinental Hotels Group shares by 14.9% in the fourth quarter. Millennium Management LLC now owns 260,692 shares of the company worth $17,000,000 after purchasing an additional 33,767 shares in the last quarter. Hedge funds and other institutional investors own 11.60% of the company’s shares.

InterContinental Hotels Group Company Profile (Get a rating)

InterContinental Hotels Group Plc owns and operates hotels. The Company’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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