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

InterContinental Hotels Group (LON:IHG) was upgraded by research analysts at The Goldman Sachs Group to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports.

Several other research firms have also recently weighed in on IHG. Jefferies Financial Group reissued 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. Berenberg Bank reiterated a “hold” rating and set a GBX 7,400 ($97.75) price target on shares of InterContinental Hotels Group in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 8,300 ($109.64) price objective on shares of InterContinental Hotels Group in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of GBX 5,471 ($72.27).

InterContinental Hotels Group Price Performance

Shares of IHG opened at GBX 8,058 ($106.45) on Wednesday. The company has a market capitalization of £12.23 billion, a PE ratio of 2,731.53, 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). The company’s fifty day moving average price is GBX 7,732.75 and its 200 day moving average price is GBX 7,936.98.

Insider Transactions at InterContinental Hotels Group

In other news, insider Ron Kalifa bought 679 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of GBX 7,624 ($100.71) per share, for a total transaction of £51,766.96 ($68,384.36). 6.00% of the stock is 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.