Intercontinental Hotels Group (NYSE:IHG) Receives $154.00 Average Price Target from Analysts

Shares of Intercontinental Hotels Group (NYSE:IHG) have earned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $154.00.

A number of brokerages have commented on IHG. Sanford C. Bernstein lifted their price objective on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a research note on Friday, May 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday.

Intercontinental Hotels Group Price Performance

Shares of NYSE:IHG opened at $155.21 on Monday. Intercontinental Hotels Group has a 52 week low of $109.79 and a 52 week high of $159.57. The firm has a fifty day simple moving average of $143.32 and a two-hundred day simple moving average of $139.50.

Intercontinental Hotels Group Dividend Announcement

The company also recently declared a dividend, which was paid on Thursday, May 14th. Investors of record on Friday, April 10th were paid a dividend of $1.259 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a dividend yield of 178.0%.

Hedge Funds Weigh In On Intercontinental Hotels Group

Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in shares of Intercontinental Hotels Group by 10.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 86,140 shares of the company’s stock worth $10,445,000 after purchasing an additional 8,099 shares during the period. Natixis Advisors LLC boosted its stake in shares of Intercontinental Hotels Group by 9.0% during the 3rd quarter. Natixis Advisors LLC now owns 448,244 shares of the company’s stock worth $54,354,000 after purchasing an additional 36,946 shares during the period. CCLA Investment Management purchased a new position in shares of Intercontinental Hotels Group during the 4th quarter worth about $114,306,000. Optiver Holding B.V. boosted its stake in shares of Intercontinental Hotels Group by 112.0% during the 3rd quarter. Optiver Holding B.V. now owns 51,306 shares of the company’s stock worth $6,221,000 after purchasing an additional 27,102 shares during the period. Finally, ABC Arbitrage SA boosted its stake in shares of Intercontinental Hotels Group by 26.4% during the 3rd quarter. ABC Arbitrage SA now owns 131,377 shares of the company’s stock worth $15,931,000 after purchasing an additional 27,450 shares during the period. 15.09% of the stock is owned by hedge funds and other 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.