Goldman Sachs Group upgraded shares of InterContinental Hotels Group (NYSE:IHG) from a neutral rating to a buy rating in a report issued on Friday, Marketbeat.com reports.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of InterContinental Hotels Group from a hold rating to a buy rating and set a $71.00 price target on the stock in a report on Thursday, December 28th. Bank of America lifted their price objective on shares of InterContinental Hotels Group from $60.50 to $62.38 and gave the company a buy rating in a research note on Friday, October 20th. Morgan Stanley raised shares of InterContinental Hotels Group from an underweight rating to an equal weight rating in a research note on Wednesday, November 29th. Finally, Credit Suisse Group raised shares of InterContinental Hotels Group from a neutral rating to an outperform rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $59.13.

InterContinental Hotels Group (NYSE IHG) traded up $0.19 during trading on Friday, hitting $68.75. 487,100 shares of the stock traded hands, compared to its average volume of 648,786. The company has a debt-to-equity ratio of -1.92, a quick ratio of 0.72 and a current ratio of 0.73. InterContinental Hotels Group has a fifty-two week low of $48.08 and a fifty-two week high of $68.80.

Several hedge funds have recently added to or reduced their stakes in IHG. Bank of New York Mellon Corp lifted its stake in shares of InterContinental Hotels Group by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,258 shares of the company’s stock valued at $792,000 after purchasing an additional 346 shares during the last quarter. CIBC World Markets Inc. lifted its stake in shares of InterContinental Hotels Group by 9.6% in the 2nd quarter. CIBC World Markets Inc. now owns 6,208 shares of the company’s stock valued at $345,000 after purchasing an additional 546 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of InterContinental Hotels Group by 16.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,785 shares of the company’s stock valued at $432,000 after purchasing an additional 1,091 shares during the last quarter. Citigroup Inc. lifted its stake in shares of InterContinental Hotels Group by 21.6% in the 2nd quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock valued at $100,000 after purchasing an additional 322 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of InterContinental Hotels Group by 10.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 204,460 shares of the company’s stock valued at $11,354,000 after purchasing an additional 18,768 shares during the last quarter. 6.26% of the stock is owned by institutional investors and hedge funds.

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About InterContinental Hotels Group

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.

Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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