Intercontinental Hotels Group (NYSE:IHG) Hits New 1-Year High – Should You Buy?

Shares of Intercontinental Hotels Group (NYSE:IHG) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $150.25 and last traded at $150.84, with a volume of 90000 shares trading hands. The stock had previously closed at $145.73.

Analyst Upgrades and Downgrades

IHG has been the topic of several recent analyst reports. Jefferies Financial Group upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Friday, December 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Thursday, January 22nd. Berenberg Bank raised Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. Finally, Wall Street Zen lowered shares of Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Intercontinental Hotels Group Trading Up 0.3%

The company’s fifty day moving average is $139.36 and its 200 day moving average is $128.88.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC increased its position in shares of Intercontinental Hotels Group by 5.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 368,487 shares of the company’s stock worth $51,894,000 after purchasing an additional 17,839 shares during the last quarter. Bank of Montreal Can grew its position in shares of Intercontinental Hotels Group by 164.1% in the 4th quarter. Bank of Montreal Can now owns 5,634 shares of the company’s stock valued at $793,000 after acquiring an additional 3,501 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Intercontinental Hotels Group by 178.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock worth $25,000 after purchasing an additional 116 shares during the last quarter. Burkett Asset Management Ltd bought a new stake in shares of Intercontinental Hotels Group in the 4th quarter valued at about $2,551,000. Finally, Zions Bancorporation National Association UT lifted its stake in Intercontinental Hotels Group by 2.1% in the 4th quarter. Zions Bancorporation National Association UT now owns 12,532 shares of the company’s stock valued at $1,765,000 after purchasing an additional 258 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors.

Intercontinental Hotels Group Company Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.