InterContinental Hotels Group (NYSE:IHG) Hits New 12-Month High – Time to Buy?

InterContinental Hotels Group PLC (NYSE:IHG)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $126.94 and last traded at $126.62, with a volume of 4885 shares. The stock had previously closed at $125.70.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IHG shares. Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Up 0.2 %

The company has a fifty day moving average price of $115.04 and a 200-day moving average price of $106.38.

Institutional Investors Weigh In On InterContinental Hotels Group

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its stake in shares of InterContinental Hotels Group by 46.9% in the 1st quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock valued at $35,000 after purchasing an additional 106 shares during the period. Rothschild Investment LLC acquired a new position in shares of InterContinental Hotels Group in the second quarter worth about $36,000. Transcendent Capital Group LLC purchased a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth about $50,000. EverSource Wealth Advisors LLC grew its position in shares of InterContinental Hotels Group by 65.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock valued at $48,000 after acquiring an additional 191 shares during the period. Finally, Assetmark Inc. increased its stake in shares of InterContinental Hotels Group by 130.9% in the 3rd quarter. Assetmark Inc. now owns 769 shares of the company’s stock valued at $85,000 after purchasing an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 15.09% 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.