Intercontinental Hotels Group (NYSE:IHG) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Intercontinental Hotels Group (NYSE:IHG) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $179.00.

Several research analysts have recently weighed in on the stock. Bank of America restated a “buy” rating on shares of Intercontinental Hotels Group in a research note on Thursday. Zacks Research upgraded shares of Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Friday, August 21st. Finally, UBS Group raised Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Wednesday, September 2nd.

Intercontinental Hotels Group Stock Performance

Shares of IHG opened at $167.31 on Thursday. The company’s fifty day simple moving average is $160.25 and its 200 day simple moving average is $151.60. Intercontinental Hotels Group has a 1-year low of $120.16 and a 1-year high of $175.89.

Intercontinental Hotels Group Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, August 21st were paid a dividend of $0.6450 per share. The ex-dividend date was Friday, August 21st. This represents a dividend yield of 81.0%. This is a decrease from Intercontinental Hotels Group’s previous dividend of $1.2590.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its holdings in Intercontinental Hotels Group by 55.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock valued at $54,261,000 after purchasing an additional 145,360 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Intercontinental Hotels Group by 198.5% in the first quarter. Renaissance Technologies LLC now owns 60,600 shares of the company’s stock valued at $8,088,000 after purchasing an additional 40,300 shares during the last quarter. ABC Arbitrage SA increased its holdings in shares of Intercontinental Hotels Group by 31.0% in the first quarter. ABC Arbitrage SA now owns 134,259 shares of the company’s stock valued at $17,918,000 after purchasing an additional 31,754 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Intercontinental Hotels Group in the second quarter valued at $3,259,000. Finally, Quantinno Capital Management LP raised its position in shares of Intercontinental Hotels Group by 25.0% in the first quarter. Quantinno Capital Management LP now owns 93,268 shares of the company’s stock valued at $12,448,000 after purchasing an additional 18,631 shares during the period. 15.09% of the stock is owned by institutional investors and hedge funds.

Intercontinental Hotels Group Company Profile

InterContinental Hotels Group PLC (NYSE: IHG) is a global hospitality company that owns, manages, franchises and licenses a portfolio of hotel brands. Its brands include InterContinental, Regent, Six Senses, Kimpton, Crowne Plaza, voco, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, avid hotels and Garner.

IHG serves business and leisure travelers across a broad range of lodging segments, from luxury and lifestyle hotels to full-service, upscale, midscale and extended-stay accommodations.