Credit Suisse Group upgraded shares of Intercontinental Hotels Group (NYSE:IHG) from a neutral rating to an outperform rating in a research report report published on Wednesday, November 1st, MarketBeat Ratings reports.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research lowered Intercontinental Hotels Group from a hold rating to a sell rating in a research note on Wednesday, September 6th. BidaskClub lowered Intercontinental Hotels Group from a hold rating to a sell rating in a research note on Friday, August 25th. Finally, Bank of America Corporation reissued a buy rating on shares of Intercontinental Hotels Group in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $52.60.
Intercontinental Hotels Group (NYSE:IHG) opened at $57.10 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of -1.92. Intercontinental Hotels Group has a 1-year low of $42.34 and a 1-year high of $57.80.
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Institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. lifted its holdings in shares of Intercontinental Hotels Group by 21.6% in the 2nd quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock valued at $100,000 after buying an additional 322 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Intercontinental Hotels Group in the 3rd quarter worth about $220,000. Cubist Systematic Strategies LLC acquired a new position in Intercontinental Hotels Group in the 2nd quarter worth about $233,000. Gotham Asset Management LLC purchased a new stake in Intercontinental Hotels Group during the 2nd quarter worth approximately $308,000. Finally, Ameriprise Financial Inc. increased its stake in Intercontinental Hotels Group by 9.0% during the 1st quarter. Ameriprise Financial Inc. now owns 6,694 shares of the company’s stock worth $328,000 after buying an additional 553 shares in the last quarter. 6.53% of the stock is owned by institutional investors.
Intercontinental Hotels Group Company Profile
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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