InterContinental Hotels Group (LON:IHG) Raised 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 Ratings reports.

IHG has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a GBX 8,300 ($109.64) price objective on shares of InterContinental Hotels Group in a research note on Thursday, August 1st. Jefferies Financial Group reiterated a hold rating and set a GBX 84 ($1.11) price target on shares of InterContinental Hotels Group in a report on Tuesday, May 21st. Finally, Berenberg Bank reissued a hold rating and set a GBX 7,400 ($97.75) price objective on shares of InterContinental Hotels Group in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, InterContinental Hotels Group currently has an average rating of Hold and a consensus price target of GBX 5,471 ($72.27).

InterContinental Hotels Group Trading Down 0.5 %

LON:IHG opened at GBX 8,020 ($105.94) on Wednesday. The company has a market capitalization of £12.17 billion, a P/E ratio of 2,718.64, a price-to-earnings-growth ratio of 1.60 and a beta of 0.98. The firm has a 50-day moving average price of GBX 7,728.67 and a two-hundred day moving average price of GBX 7,934.75. InterContinental Hotels Group has a twelve month low of GBX 5,636 ($74.45) and a twelve month high of GBX 8,790 ($116.12).

InterContinental Hotels Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, August 29th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a dividend yield of 0.57%. InterContinental Hotels Group’s dividend payout ratio is presently 4,237.29%.

Insider Activity at InterContinental Hotels Group

In other news, insider Ron Kalifa acquired 679 shares of the company’s stock in a transaction dated 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.