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

The Goldman Sachs Group upgraded shares of InterContinental Hotels Group (LON:IHG) to a buy rating in a report released on Wednesday, MarketBeat reports.

Several other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated 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. Berenberg Bank reaffirmed a hold rating and issued a GBX 7,400 ($97.75) price target on shares of InterContinental Hotels Group in a research note on Thursday, August 15th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of GBX 5,471 ($72.27).

InterContinental Hotels Group Stock Performance

Shares of IHG stock opened at GBX 8,020 ($105.94) on Wednesday. InterContinental Hotels Group has a fifty-two week low of GBX 5,636 ($74.45) and a fifty-two week high of GBX 8,790 ($116.12). The stock has a 50 day simple moving average of GBX 7,723.23 and a two-hundred day simple moving average of GBX 7,932.41. The company has a market cap of £12.17 billion, a P/E ratio of 2,718.64, a PEG ratio of 1.60 and a beta of 0.98.

InterContinental Hotels Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, August 29th. This represents a yield of 0.57%. InterContinental Hotels Group’s payout ratio is 4,237.29%.

Insider Buying and Selling at InterContinental Hotels Group

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

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.