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

InterContinental Hotels Group PLC (LON:IHG)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 8,087.87 ($101.82) and traded as high as GBX 9,554 ($120.28). InterContinental Hotels Group shares last traded at GBX 9,487.17 ($119.44), with a volume of 564,504 shares.

Analysts Set New Price Targets

Several research firms have issued reports on IHG. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 8,300 ($104.49) price objective on shares of InterContinental Hotels Group in a research report on Thursday, August 1st. Berenberg Bank reissued a “hold” rating and issued a GBX 7,400 ($93.16) price objective on shares of InterContinental Hotels Group in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group raised shares of InterContinental Hotels Group to a “buy” rating in a research 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 given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of GBX 5,471 ($68.88).

InterContinental Hotels Group Stock Performance

The company has a market capitalization of £15.29 billion, a PE ratio of 3,269.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The firm’s 50-day simple moving average is GBX 8,550.32 and its 200 day simple moving average is GBX 8,111.61.

Insider Activity at InterContinental Hotels Group

In other news, insider Daniela Barone Soares sold 328 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of GBX 8,604 ($108.32), for a total transaction of £28,221.12 ($35,529.55). 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.