Analysts Set Intercontinental Hotels Group (NYSE:IHG) Price Target at $154.00

Intercontinental Hotels Group (NYSE:IHG) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Two 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 price target among brokers that have issued ratings on the stock in the last year is $154.00.

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. Sanford C. Bernstein upped their price target 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.

Intercontinental Hotels Group Stock Up 0.7%

NYSE:IHG opened at $171.32 on Friday. The firm’s 50-day moving average price is $153.92 and its 200-day moving average price is $143.62. Intercontinental Hotels Group has a 1-year low of $113.32 and a 1-year high of $173.38.

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of hedge funds have recently bought and sold shares of IHG. Jones Financial Companies Lllp boosted its stake in Intercontinental Hotels Group by 228.2% in the 1st quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock worth $531,000 after purchasing an additional 3,368 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Intercontinental Hotels Group by 2.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock worth $73,310,000 after purchasing an additional 16,461 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Intercontinental Hotels Group by 44.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,518 shares of the company’s stock worth $290,000 after purchasing an additional 780 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $50,000 after purchasing an additional 129 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Intercontinental Hotels Group by 56.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company’s stock worth $108,000 after purchasing an additional 336 shares in the last quarter. Institutional investors own 15.09% of the company’s stock.

About Intercontinental Hotels Group

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.