InterContinental Hotels Group (LON:IHG) Upgraded to Buy at The Goldman Sachs Group

InterContinental Hotels Group (LON:IHG) was upgraded by The Goldman Sachs Group to a “buy” rating in a research report issued on Wednesday, Digital Look reports.

A number of other equities analysts have also weighed in on IHG. Berenberg Bank restated a “hold” rating and issued a GBX 7,400 ($97.75) price objective on shares of InterContinental Hotels Group in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 8,300 ($109.64) price target on shares of InterContinental Hotels Group in a research note on Thursday, August 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 84 ($1.11) price objective on shares of InterContinental Hotels Group in a research report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, InterContinental Hotels Group presently has a consensus rating of “Hold” and an average price target of GBX 5,816.80 ($76.84).

InterContinental Hotels Group Price Performance

IHG stock traded up GBX 50 ($0.66) on Wednesday, reaching GBX 7,914 ($104.54). 298,833 shares of the company traded hands, compared to its average volume of 674,472. The firm has a fifty day simple moving average of GBX 7,737.55 and a 200-day simple moving average of GBX 7,941.43. The company has a market cap of £12.01 billion, a P/E ratio of 2,682.71, a price-to-earnings-growth ratio of 1.60 and a beta of 0.98. InterContinental Hotels Group has a one year low of GBX 5,636 ($74.45) and a one year high of GBX 8,790 ($116.12).

Insider Buying and Selling

In other InterContinental Hotels Group news, insider Ron Kalifa acquired 679 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of GBX 7,624 ($100.71) per share, with a total value of £51,766.96 ($68,384.36). 6.00% of the stock is currently owned by insiders.

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 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.