Brokerages Set Intercontinental Hotels Group (IHG) Price Target at $4,700.00

Shares of Intercontinental Hotels Group (LON:IHG) have been given an average recommendation of “Hold” by the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is GBX 4,916.67 ($64.24).

Several brokerages recently issued reports on IHG. Main First Bank began coverage on shares of Intercontinental Hotels Group in a research note on Tuesday. They set an “outperform” rating and a GBX 5,600 ($73.17) price objective on the stock. UBS Group raised shares of Intercontinental Hotels Group to a “neutral” rating and upped their price objective for the company from GBX 4,275 ($55.86) to GBX 4,500 ($58.80) in a research note on Wednesday, February 20th. Morgan Stanley downgraded shares of Intercontinental Hotels Group from an “equal” rating to a “weight” rating in a research note on Monday, January 7th. Goldman Sachs Group reduced their price objective on shares of Intercontinental Hotels Group from GBX 5,368.42 ($70.15) to GBX 5,100 ($66.64) and set a “neutral” rating on the stock in a research note on Monday. Finally, Societe Generale upped their price objective on shares of 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.

Shares of IHG traded up GBX 24 ($0.31) on Thursday, hitting GBX 4,863 ($63.54). 213,085 shares of the stock traded hands, compared to its average volume of 648,968. The company has a market capitalization of $8.88 billion and a price-to-earnings ratio of 25.28. 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 business also recently declared a dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.78 per share. This represents a 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 other Intercontinental Hotels Group news, insider George Turner sold 10,000 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of GBX 4,613 ($60.28), for a total transaction 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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Analyst Recommendations for Intercontinental Hotels Group (LON:IHG)

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