Intercontinental Hotels Group (NYSE:IHG) Sets New 12-Month High – Time to Buy?

Intercontinental Hotels Group (NYSE:IHG) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $137.33 and last traded at $137.0340, with a volume of 43784 shares changing hands. The stock had previously closed at $135.18.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IHG shares. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upgraded Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research report on Friday, September 26th. Morgan Stanley upgraded shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, October 1st. Finally, Wall Street Zen lowered shares of Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Intercontinental Hotels Group Stock Up 1.0%

The business has a fifty day simple moving average of $125.48 and a two-hundred day simple moving average of $120.88.

Institutional Trading of Intercontinental Hotels Group

Several large investors have recently bought and sold shares of IHG. Osaic Holdings Inc. lifted its stake in Intercontinental Hotels Group by 1.3% in the 2nd quarter. Osaic Holdings Inc. now owns 7,216 shares of the company’s stock worth $827,000 after purchasing an additional 96 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in Intercontinental Hotels Group by 3.9% during the second quarter. Frank Rimerman Advisors LLC now owns 2,571 shares of the company’s stock worth $297,000 after buying an additional 97 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Intercontinental Hotels Group by 6.1% during the second quarter. King Luther Capital Management Corp now owns 2,044 shares of the company’s stock worth $236,000 after buying an additional 118 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Intercontinental Hotels Group by 42.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock valued at $50,000 after buying an additional 129 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Intercontinental Hotels Group by 1.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 9,214 shares of the company’s stock worth $1,117,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

About Intercontinental Hotels Group

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.