Morgan Stanley downgraded shares of InterContinental Hotels Group PLC (LON:IHG) from an equal rating to an underweight rating in a research note released on Monday. Morgan Stanley currently has GBX 3,100 ($40.46) price target on the stock, down from their prior price target of GBX 3,300 ($43.08).
A number of other research firms have also commented on IHG. Goldman Sachs Group Inc. lowered shares of InterContinental Hotels Group PLC to an underweight rating and lowered their price target for the company from GBX 3,300 ($43.08) to GBX 3,100 ($40.46) in a report on Monday. HSBC initiated coverage on shares of InterContinental Hotels Group PLC in a report on Monday, September 19th. They set a reduce rating and a GBX 2,900 ($37.85) price target for the company. Berenberg Bank boosted their price objective on shares of InterContinental Hotels Group PLC from GBX 2,850 ($37.20) to GBX 3,000 ($39.16) and gave the company a hold rating in a research report on Thursday, September 15th. Credit Suisse Group AG boosted their price objective on shares of InterContinental Hotels Group PLC from GBX 3,500 ($45.69) to GBX 3,550 ($46.34) and gave the company an outperform rating in a research report on Tuesday, September 13th. Finally, Beaufort Securities reissued a buy rating on shares of InterContinental Hotels Group PLC in a research report on Wednesday, August 3rd. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. InterContinental Hotels Group PLC has a consensus rating of Hold and a consensus target price of GBX 2,871.42 ($37.48).
InterContinental Hotels Group PLC (LON:IHG) opened at 3126.00 on Monday. InterContinental Hotels Group PLC has a 52-week low of GBX 2,162.48 and a 52-week high of GBX 3,376.00. The company’s market capitalization is GBX 7.13 billion. The company’s 50 day moving average is GBX 3,257.11 and its 200-day moving average is GBX 3,063.23.
The business also recently announced a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 1st will be paid a dividend of GBX 22.60 ($0.30) per share. This represents a yield of 0.73%. The ex-dividend date is Thursday, September 1st.
In other InterContinental Hotels Group PLC news, insider Solomons,Richard sold 55,782 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of GBX 3,078 ($40.18), for a total transaction of £1,716,969.96 ($2,241,182.56).
About InterContinental Hotels Group PLC
InterContinental Hotels Group PLC is a hotel company. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s segments include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Company operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.
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