InterContinental Hotels Group (LON:IHG) Hits New 12-Month High – Here’s Why

by · The Markets Daily

InterContinental Hotels Group PLC (LON:IHG – Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as GBX 9,660 ($122.23) and last traded at GBX 9,610.18 ($121.60), with a volume of 243257 shares traded. The stock had previously closed at GBX 9,520 ($120.46).

Wall Street Analyst Weigh In

Several research firms have recently commented on IHG. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 7,400 ($93.64) price target on shares of InterContinental Hotels Group in a report on Thursday, August 15th. The Goldman Sachs Group raised InterContinental Hotels Group to a “buy” rating in a report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 8,300 ($105.02) price objective on shares of InterContinental Hotels Group in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of GBX 5,471 ($69.23).

Read Our Latest Research Report on IHG

InterContinental Hotels Group Trading Up 0.9 %

The stock has a market cap of £15.23 billion, a price-to-earnings ratio of 3,227.12, a P/E/G ratio of 1.69 and a beta of 0.98. The company has a 50 day simple moving average of GBX 8,510.32 and a 200-day simple moving average of GBX 8,099.30.

Insider Buying and Selling at InterContinental Hotels Group

In related news, insider Daniela Barone Soares sold 328 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of GBX 8,604 ($108.87), for a total transaction of £28,221.12 ($35,709.38). Corporate insiders own 5.99% of the company’s stock.

InterContinental Hotels Group Company Profile

(Get Free Report)

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.

Further Reading