InterContinental Hotels Group (LON:IHG) Hits New 52-Week High – Here’s Why

Shares of InterContinental Hotels Group PLC (LON:IHG) reached a new 52-week high on Tuesday . The company traded as high as GBX 9,930 ($126.18) and last traded at GBX 9,924 ($126.10), with a volume of 1104997 shares traded. The stock had previously closed at GBX 9,856 ($125.24).

Analyst Ratings Changes

IHG has been the topic of a number of recent research reports. Berenberg Bank restated a “hold” rating and set a GBX 7,400 ($94.03) target price on shares of InterContinental Hotels Group in a research note on Thursday, August 15th. The Goldman Sachs Group upgraded shares of InterContinental Hotels Group to a “buy” rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, InterContinental Hotels Group has a consensus rating of “Hold” and a consensus price target of GBX 5,471 ($69.52).

InterContinental Hotels Group Price Performance

The company has a market capitalization of £16.02 billion, a PE ratio of 3,398.31, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The company’s 50 day simple moving average is GBX 8,820.76 and its 200 day simple moving average is GBX 8,207.83.

Insider Buying and Selling at InterContinental Hotels Group

In other news, insider Daniela Barone Soares sold 328 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of GBX 8,604 ($109.33), for a total transaction of £28,221.12 ($35,859.11). 5.99% of the stock is currently 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.