InterContinental Hotels Group (LON:IHG) Share Price Crosses Above 200-Day Moving Average – Here’s Why

InterContinental Hotels Group PLC (LON:IHG) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 8,374 ($105.37) and traded as high as £100.60 ($126.59). InterContinental Hotels Group shares last traded at £100.05 ($125.90), with a volume of 39,945 shares trading hands.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised shares of InterContinental Hotels Group to a “buy” rating in a research report on Wednesday, September 18th. Two 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 5,471 ($68.84).

InterContinental Hotels Group Trading Down 0.4 %

The firm has a fifty day simple moving average of GBX 9,167.28 and a 200 day simple moving average of GBX 8,374. The stock has a market cap of £15.79 billion, a price-to-earnings ratio of 3,376.27, a PEG ratio of 1.69 and a beta of 0.98.

Insider Activity

In other news, insider Daniela Barone Soares sold 328 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of GBX 8,604 ($108.27), for a total transaction of £28,221.12 ($35,511.66). 5.99% of the stock is currently owned by company insiders.

About InterContinental Hotels Group

Our presence
IHG® Hotels & Resorts is a global hospitality company,
with 19 hotel brands, one of the industry’s largest
loyalty programmes, over 6,300 open hotels in more
than 100 countries, and a further 1,800 hotels in our
development pipeline.

Our ambition
To deliver industry-leading growth in our scale,
enterprise platform and performance, doing so
sustainably for all stakeholders, including our hotel
owners, guests and society as a whole.

Our strategy
To use our scale and expertise to create the
exceptional guest experiences and owner returns
needed to grow our brands in the industry’s most
valuable markets and segments.