The Goldman Sachs Group Upgrades InterContinental Hotels Group (LON:IHG) to Buy

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

Several other brokerages also recently issued reports on IHG. Jefferies Financial Group restated 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. Deutsche Bank Aktiengesellschaft restated a hold rating and issued a GBX 8,300 ($109.64) price target on shares of InterContinental Hotels Group in a research note on Thursday, August 1st. Finally, Berenberg Bank reiterated a hold rating and set a GBX 7,400 ($97.75) price objective on shares of InterContinental Hotels Group in a research report 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 given a buy rating to the company. Based on data from MarketBeat.com, InterContinental Hotels Group currently 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 8,020 ($105.94) on Wednesday. The company’s 50-day moving average is GBX 7,723.23 and its 200-day moving average is GBX 7,932.41. The firm has a market capitalization of £12.17 billion, a PE ratio of 2,718.64, a PEG ratio of 1.60 and a beta of 0.98. 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).

InterContinental Hotels Group Cuts Dividend

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

Insider Buying and Selling at InterContinental Hotels Group

In related news, insider Ron Kalifa bought 679 shares of InterContinental Hotels Group stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost 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.

About InterContinental Hotels Group

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.