InterContinental Hotels Group (NYSE:IHG) Hits New 1-Year High – Here’s Why

InterContinental Hotels Group PLC (NYSE:IHG) reached a new 52-week high during trading on Tuesday . The stock traded as high as $133.36 and last traded at $133.36, with a volume of 28089 shares trading hands. The stock had previously closed at $131.15.

Analysts Set New Price Targets

IHG has been the subject of a number of recent research reports. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

The business’s 50-day moving average is $126.58 and its 200 day moving average is $113.82. The firm has a market capitalization of $21.50 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.32.

Institutional Investors Weigh In On InterContinental Hotels Group

Large investors have recently modified their holdings of the business. Richardson Financial Services Inc. bought a new stake in shares of InterContinental Hotels Group during the 4th quarter worth $25,000. Assetmark Inc. boosted its position in InterContinental Hotels Group by 130.9% during the 3rd quarter. Assetmark Inc. now owns 769 shares of the company’s stock worth $85,000 after buying an additional 436 shares during the period. World Investment Advisors LLC acquired a new position in InterContinental Hotels Group in the 3rd quarter valued at approximately $86,000. R Squared Ltd bought a new position in shares of InterContinental Hotels Group during the fourth quarter valued at $89,000. Finally, Transamerica Financial Advisors Inc. lifted its holdings in shares of InterContinental Hotels Group by 100,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,002 shares of the company’s stock worth $111,000 after purchasing an additional 1,001 shares during the period. Institutional investors and hedge funds own 15.09% 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 under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.