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

InterContinental Hotels Group (NYSE:IHG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, December 28th. The firm presently has a $71.00 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.13% from the stock’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. “

Other equities analysts have also issued reports about the company. Bank of America lifted their price objective on InterContinental Hotels Group from $60.50 to $62.38 and gave the stock a “buy” rating in a research note on Friday, October 20th. Morgan Stanley upgraded InterContinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 29th. Finally, Credit Suisse Group upgraded InterContinental Hotels Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. InterContinental Hotels Group currently has a consensus rating of “Hold” and an average target price of $59.13.

Shares of InterContinental Hotels Group (NYSE IHG) opened at $65.66 on Thursday. The company has a debt-to-equity ratio of -1.92, a current ratio of 0.73 and a quick ratio of 0.72. The firm has a market capitalization of $12,360.00, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.87 and a beta of 1.34. InterContinental Hotels Group has a 12-month low of $47.19 and a 12-month high of $65.69.

Institutional investors have recently bought and sold shares of the company. Stevens Capital Management LP bought a new position in shares of InterContinental Hotels Group in the third quarter worth about $429,000. Comerica Bank bought a new position in InterContinental Hotels Group during the third quarter valued at about $596,000. Advisors Asset Management Inc. increased its stake in InterContinental Hotels Group by 2,301.1% during the third quarter. Advisors Asset Management Inc. now owns 11,381 shares of the company’s stock valued at $602,000 after acquiring an additional 10,907 shares during the period. Crossmark Global Holdings Inc. bought a new position in InterContinental Hotels Group during the third quarter valued at about $1,782,000. Finally, Goldman Sachs Group Inc. increased its stake in InterContinental Hotels Group by 9.6% during the second quarter. Goldman Sachs Group Inc. now owns 69,660 shares of the company’s stock valued at $3,868,000 after acquiring an additional 6,079 shares during the period. Institutional investors and hedge funds own 6.26% of the company’s stock.

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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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