Main First Bank began coverage on shares of Intercontinental Hotels Group (LON:IHG) in a report issued on Tuesday morning, ThisIsMoney.Co.Uk reports. The brokerage issued an outperform rating and a GBX 5,600 ($73.17) target price on the stock.
Several other analysts also recently issued reports on IHG. Morgan Stanley downgraded Intercontinental Hotels Group from an equal rating to a weight rating in a research note on Monday, January 7th. UBS Group raised Intercontinental Hotels Group from a sell rating to a neutral rating and lifted their price target for the company from GBX 4,000 ($52.27) to GBX 4,275 ($55.86) in a research note on Thursday, January 10th. Barclays reissued an equal weight rating on shares of Intercontinental Hotels Group in a research note on Thursday, February 7th. Bryan, Garnier & Co reissued a sell rating on shares of Intercontinental Hotels Group in a research note on Tuesday, February 19th. Finally, Societe Generale lifted their price target on Intercontinental Hotels Group from GBX 4,500 ($58.80) to GBX 4,800 ($62.72) and gave the company a hold rating in a research note on Wednesday, February 20th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of GBX 4,885 ($63.83).
IHG opened at GBX 4,917.50 ($64.26) on Tuesday. Intercontinental Hotels Group has a 1 year low of GBX 3,850 ($50.31) and a 1 year high of GBX 5,050 ($65.99). The stock has a market capitalization of $8.88 billion and a price-to-earnings ratio of 25.56.
The business also recently announced a dividend, which will be paid on Tuesday, May 14th. Investors of record on Thursday, March 28th will be given a $0.78 dividend. This represents a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, March 28th. Intercontinental Hotels Group’s dividend payout ratio is currently 0.46%.
In related news, insider George Turner sold 10,000 shares of Intercontinental Hotels Group stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of GBX 4,613 ($60.28), for a total value of £461,300 ($602,770.16).
Intercontinental Hotels Group Company Profile
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 HOTELS, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.
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