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

InterContinental Hotels Group PLC (LON:IHG)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 9,660 ($121.10) and last traded at GBX 9,610.18 ($120.47), with a volume of 243257 shares changing hands. The stock had previously closed at GBX 9,520 ($119.34).

Analyst Ratings Changes

Several research firms have recently commented on IHG. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 7,400 ($92.77) target price on shares of InterContinental Hotels Group in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 8,300 ($104.05) price objective on shares of InterContinental Hotels Group in a report on Thursday, August 1st. Finally, The Goldman Sachs Group upgraded InterContinental Hotels Group to a “buy” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, InterContinental Hotels Group currently has an average rating of “Hold” and an average target price of GBX 5,471 ($68.58).

InterContinental Hotels Group Trading Up 0.3 %

The company’s 50 day moving average is GBX 8,550.32 and its 200-day moving average is GBX 8,111.61. The company has a market capitalization of £15.33 billion, a P/E ratio of 3,277.97, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Insider Buying and Selling at InterContinental Hotels Group

In related news, insider Daniela Barone Soares sold 328 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of GBX 8,604 ($107.86), for a total value of £28,221.12 ($35,378.11). Insiders own 5.99% 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.