The stock of InterContinental Hotels Group PLC (ADR) (NYSE:IHG) gapped up by $0.38 today and has $49.96 target or 20.00% above today’s $41.63 share price. The 9 months technical chart setup indicates low risk for the $8.12B company. The gap was reported on Oct, 1 by Barchart.com. If the $49.96 price target is reached, the company will be worth $1.62B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 2.21% or $0.9 on September 30, hitting $41.63. About 137,670 shares traded hands. InterContinental Hotels Group PLC (ADR) (NYSE:IHG) has declined 8.24% since February 29, 2016 and is downtrending. It has underperformed by 18.66% the S&P500.
InterContinental Hotels Group PLC (ADR) (NYSE:IHG) Ratings Coverage
Out of 11 analysts covering Intercontinental Hotels Group (NYSE:IHG), 1 rate it a “Buy”, 5 “Sell”, while 5 “Hold”. This means 9% are positive. Intercontinental Hotels Group has been the topic of 14 analyst reports since August 28, 2015 according to StockzIntelligence Inc. The stock of InterContinental Hotels Group PLC (ADR) (NYSE:IHG) has “Underweight” rating given on Monday, September 26 by Morgan Stanley. Kepler Cheuvreux downgraded the shares of IHG in a report on Wednesday, February 24 to “Hold” rating. The stock of InterContinental Hotels Group PLC (ADR) (NYSE:IHG) has “Reduce” rating given on Monday, September 19 by HSBC. Telsey Advisory Group initiated InterContinental Hotels Group PLC (ADR) (NYSE:IHG) on Monday, January 4 with “Market Perform” rating. SunTrust maintained the shares of IHG in a report on Thursday, August 4 with “Neutral” rating. The stock has “Underweight” rating given by JP Morgan on Thursday, April 14. The firm has “Sell” rating by Citigroup given on Monday, March 7. The firm has “Equal-Weight” rating given on Thursday, March 17 by Morgan Stanley. The firm has “Buy” rating given on Thursday, January 14 by M Partners. The stock has “Neutral” rating given by Credit Suisse on Friday, August 28.
According to Zacks Investment Research, “InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels.”
More notable recent InterContinental Hotels Group PLC (ADR) (NYSE:IHG) news were published by: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011, also Fool.com with their article: “Hotel Stocks to Watch: InterContinental Hotels Group PLC and Homeinns Hotel Group” published on November 16, 2015, Benzinga.com published: “Benzinga’s Top Downgrades” on September 26, 2016. More interesting news about InterContinental Hotels Group PLC (ADR) (NYSE:IHG) were released by: Investorplace.com and their article: “11 Hotels Restaurants & Leisure Stocks to Buy Now” published on September 29, 2016 as well as Seekingalpha.com‘s news article titled: “A Winner In The Current Consolidation Wave In The Hotel Industry …” with publication date: November 18, 2015.
IHG Company Profile
InterContinental Hotels Group PLC, incorporated on May 21, 2004, is a hotel company. The Firm operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s divisions include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Firm operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites. The Firm has approximately 5,000 hotels and over 744,000 guest rooms in its System in over 100 countries, and has over 1,300 hotels in its development pipeline. It operates approximately 4,220 hotels under franchise agreements. The Firm manages over 810 hotels and owns seven hotels across the world.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.