Jefferies Financial Group Increases Intercontinental Hotels Group (NYSE:IHG) Price Target to $195.00

Intercontinental Hotels Group (NYSE:IHG) had its price objective lifted by equities research analysts at Jefferies Financial Group from $160.00 to $195.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 12.75% from the company’s current price.

A number of other brokerages have also recently weighed in on IHG. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. Sanford C. Bernstein increased their target price on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Hotels Group presently has an average rating of “Moderate Buy” and an average target price of $174.50.

Intercontinental Hotels Group Trading Down 0.7%

IHG stock traded down $1.19 during trading on Friday, reaching $172.94. 146,012 shares of the company’s stock were exchanged, compared to its average volume of 251,347. Intercontinental Hotels Group has a 1-year low of $113.32 and a 1-year high of $175.89. The company’s fifty day moving average price is $155.13 and its 200-day moving average price is $144.17.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IHG. NewEdge Advisors LLC raised its position in Intercontinental Hotels Group by 4.7% in the first quarter. NewEdge Advisors LLC now owns 8,207 shares of the company’s stock worth $1,095,000 after acquiring an additional 369 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Intercontinental Hotels Group by 25.0% during the 1st 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 in the last quarter. Renaissance Technologies LLC grew its stake in shares of Intercontinental Hotels Group by 198.5% in the 1st quarter. Renaissance Technologies LLC now owns 60,600 shares of the company’s stock worth $8,088,000 after purchasing an additional 40,300 shares during the last quarter. Compound Planning Inc. raised its holdings in shares of Intercontinental Hotels Group by 5.4% in the 1st quarter. Compound Planning Inc. now owns 1,694 shares of the company’s stock worth $226,000 after purchasing an additional 87 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Intercontinental Hotels Group by 55.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock worth $54,261,000 after purchasing an additional 145,360 shares in the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

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.