InterContinental Hotels Group (NYSE:IHG) Lifted to Buy at Zacks Investment Research

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InterContinental Hotels Group (NYSE:IHG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, June 21st. The firm currently has a $72.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.89% from the company’s current price.

According to Zacks, “InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels. “

A number of other equities analysts have also commented on IHG. ValuEngine lowered shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. SunTrust Banks boosted their target price on shares of InterContinental Hotels Group to $66.00 and gave the stock a “hold” rating in a research report on Tuesday, February 27th. Bank of America lowered shares of InterContinental Hotels Group from a “buy” rating to a “neutral” rating in a research report on Friday, May 11th. Finally, JPMorgan Chase & Co. raised shares of InterContinental Hotels Group from an “underweight” rating to a “neutral” rating in a research report on Friday, June 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $66.79.

InterContinental Hotels Group opened at $62.67 on Thursday, according to MarketBeat. InterContinental Hotels Group has a 12-month low of $49.03 and a 12-month high of $69.23. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 25.79 and a beta of 1.32. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of -2.22.

A number of hedge funds and other institutional investors have recently modified their holdings of IHG. UBS Group AG lifted its position in InterContinental Hotels Group by 238.8% during the 1st quarter. UBS Group AG now owns 2,175 shares of the company’s stock worth $133,000 after buying an additional 1,533 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in InterContinental Hotels Group during the 4th quarter worth about $143,000. Financial Gravity Wealth Inc. acquired a new position in InterContinental Hotels Group during the 1st quarter worth about $159,000. Ladenburg Thalmann Financial Services Inc. lifted its position in InterContinental Hotels Group by 133.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,625 shares of the company’s stock worth $161,000 after buying an additional 1,502 shares in the last quarter. Finally, Suntrust Banks Inc. acquired a new position in InterContinental Hotels Group during the 1st quarter worth about $206,000. Institutional investors and hedge funds own 6.38% of the company’s stock.

About InterContinental Hotels Group

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, and Candlewood Suites brands.

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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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