InterContinental Hotels Group (NYSE:IHG) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of InterContinental Hotels Group (NYSE:IHG) in a report issued on Tuesday morning, The Fly reports. The brokerage issued a buy rating on the stock. Jefferies Financial Group also issued estimates for InterContinental Hotels Group’s FY2019 earnings at $3.08 EPS, FY2020 earnings at $3.42 EPS and FY2021 earnings at $3.81 EPS.

A number of other research firms also recently weighed in on IHG. JPMorgan Chase & Co. downgraded shares of InterContinental Hotels Group from an overweight rating to a neutral rating in a research report on Thursday, September 12th. UBS Group downgraded shares of InterContinental Hotels Group from a neutral rating to a sell rating in a research report on Tuesday, July 2nd. Barclays downgraded shares of InterContinental Hotels Group from an equal weight rating to an underweight rating in a report on Tuesday, June 18th. Royal Bank of Canada downgraded shares of InterContinental Hotels Group from a sector perform rating to an underperform rating in a report on Thursday, July 18th. Finally, Berenberg Bank downgraded shares of InterContinental Hotels Group from a buy rating to a hold rating in a report on Tuesday, August 13th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. InterContinental Hotels Group has a consensus rating of Hold.

IHG stock opened at $62.41 on Tuesday. InterContinental Hotels Group has a twelve month low of $50.84 and a twelve month high of $71.02. The firm has a 50 day simple moving average of $63.87 and a 200-day simple moving average of $64.88.

A number of institutional investors have recently added to or reduced their stakes in IHG. Amundi Pioneer Asset Management Inc. acquired a new position in InterContinental Hotels Group in the second quarter worth $20,817,000. Freestone Capital Holdings LLC acquired a new position in InterContinental Hotels Group in the first quarter worth $10,089,000. CIBC Private Wealth Group LLC boosted its holdings in InterContinental Hotels Group by 173.8% in the first quarter. CIBC Private Wealth Group LLC now owns 124,209 shares of the company’s stock worth $7,587,000 after purchasing an additional 78,848 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in InterContinental Hotels Group by 7.5% in the second quarter. Parametric Portfolio Associates LLC now owns 394,763 shares of the company’s stock worth $26,402,000 after purchasing an additional 27,610 shares during the period. Finally, Royal Bank of Canada boosted its holdings in InterContinental Hotels Group by 21.7% in the second quarter. Royal Bank of Canada now owns 117,565 shares of the company’s stock worth $7,863,000 after purchasing an additional 21,002 shares during the period. 8.08% of the stock is owned by hedge funds and other institutional investors.

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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The Fly

Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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