InterContinental Hotels Group (LON:IHG) Sets New 1-Year High – What’s Next?

InterContinental Hotels Group PLC (LON:IHG) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 9,028 ($117.52) and last traded at GBX 9,010 ($117.29), with a volume of 3179232 shares trading hands. The stock had previously closed at GBX 8,554 ($111.35).

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Berenberg Bank restated a “hold” rating and issued a GBX 7,400 ($96.33) 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 report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 8,300 ($108.04) price objective on shares of InterContinental Hotels Group in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of GBX 5,471 ($71.22).

InterContinental Hotels Group Stock Up 1.1 %

The firm has a market capitalization of £14.43 billion, a PE ratio of 3,053.56, a PEG ratio of 1.69 and a beta of 0.98. The stock’s fifty day simple moving average is GBX 8,214.68 and its 200 day simple moving average is GBX 8,017.

Insider Buying and Selling

In other InterContinental Hotels Group 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 ($112.00), for a total transaction of £28,221.12 ($36,736.68). 5.99% of the stock is owned by insiders.

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.