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

InterContinental Hotels Group PLC (LON:IHG)’s stock price reached a new 52-week high during 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 traded. The stock had previously closed at GBX 9,520 ($119.34).

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Berenberg Bank reiterated a “hold” rating and set a GBX 7,400 ($92.77) target price on shares of InterContinental Hotels Group in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 8,300 ($104.05) price target on shares of InterContinental Hotels Group in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group raised shares of InterContinental Hotels Group to a “buy” rating in a 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 5,471 ($68.58).

InterContinental Hotels Group Price Performance

The business has a 50-day simple moving average of GBX 8,550.32 and a 200 day simple moving average of GBX 8,111.61. The firm has a market cap of £15.33 billion, a PE ratio of 3,277.97, a PEG ratio of 1.69 and a beta of 0.98.

Insider Buying and Selling

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