InterContinental Hotels Group (NYSE:IHG) Hits New 52-Week High – Still a Buy?

InterContinental Hotels Group PLC (NYSE:IHG)’s share price reached a new 52-week high on Tuesday . The company traded as high as $133.36 and last traded at $133.36, with a volume of 28089 shares traded. The stock had previously closed at $131.15.

Wall Street Analysts Forecast Growth

IHG has been the topic of several research analyst reports. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Morgan Stanley lowered InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Finally, Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

InterContinental Hotels Group Trading Up 1.1 %

The stock has a market capitalization of $21.50 billion, a P/E ratio of 23.79, a P/E/G ratio of 1.60 and a beta of 1.32. The firm’s fifty day moving average is $126.58 and its 200-day moving average is $113.82.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new position in shares of InterContinental Hotels Group during the fourth quarter worth approximately $25,000. Assetmark Inc. boosted its position in 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 buying an additional 436 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of InterContinental Hotels Group in the 3rd quarter valued at $86,000. R Squared Ltd bought a new stake in shares of InterContinental Hotels Group during the fourth quarter worth $89,000. Finally, Transamerica Financial Advisors Inc. lifted its stake in shares of InterContinental Hotels Group by 100,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,002 shares of the company’s stock valued at $111,000 after acquiring an additional 1,001 shares during the period. Institutional investors own 15.09% 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.