Goldman Sachs Group Inc. cut shares of InterContinental Hotels Group PLC (LON:IHG) to an underweight rating in a research note released on Monday. Goldman Sachs Group Inc. currently has GBX 3,100 ($40.46) target price on the stock, down from their previous target price of GBX 3,300 ($43.08).
Several other brokerages also recently weighed in on IHG. HSBC assumed coverage on InterContinental Hotels Group PLC in a research report on Monday, September 19th. They issued a reduce rating and a GBX 2,900 ($37.85) target price for the company. Berenberg Bank upped their target price on InterContinental Hotels Group PLC from GBX 2,850 ($37.20) to GBX 3,000 ($39.16) and gave the stock a hold rating in a research report on Thursday, September 15th. Credit Suisse Group AG upped their target price on InterContinental Hotels Group PLC from GBX 3,500 ($45.69) to GBX 3,550 ($46.34) and gave the stock an outperform rating in a research report on Tuesday, September 13th. Morgan Stanley upped their target price on InterContinental Hotels Group PLC from GBX 3,050 ($39.81) to GBX 3,300 ($43.08) and gave the stock an equal weight rating in a research report on Monday, August 8th. Finally, Beaufort Securities reaffirmed a buy rating on shares of InterContinental Hotels Group PLC in a research report on Wednesday, August 3rd. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. InterContinental Hotels Group PLC currently has a consensus rating of Hold and a consensus price target of GBX 2,885.35 ($37.66).
InterContinental Hotels Group PLC (LON:IHG) opened at 3090.6365 on Monday. The stock’s market cap is GBX 7.05 billion. The company’s 50-day moving average price is GBX 3,267.83 and its 200-day moving average price is GBX 3,064.30. InterContinental Hotels Group PLC has a 1-year low of GBX 2,162.48 and a 1-year high of GBX 3,376.00.
The business also recently declared a dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 1st will be given a dividend of GBX 22.60 ($0.30) per share. This represents a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, September 1st.
In related news, insider Solomons,Richard sold 55,782 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of GBX 3,078 ($40.18), for a total value 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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