InterContinental Hotels Group (LON:IHG) Reaches New 12-Month High – What’s Next?

InterContinental Hotels Group PLC (LON:IHG) shares hit a new 52-week high on Tuesday . The company traded as high as GBX 9,390 ($120.83) and last traded at GBX 9,374 ($120.63), with a volume of 181944 shares traded. The stock had previously closed at GBX 9,258 ($119.14).

Wall Street Analyst Weigh In

A number of brokerages have commented on IHG. The Goldman Sachs Group upgraded shares of InterContinental Hotels Group to a “buy” rating in a research note on Wednesday, September 18th. Berenberg Bank reiterated a “hold” rating and issued a GBX 7,400 ($95.23) target price on shares of InterContinental Hotels Group in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 8,300 ($106.81) price target on shares of InterContinental Hotels Group in a research report on Thursday, August 1st. Two research 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, InterContinental Hotels Group has an average rating of “Hold” and a consensus price target of GBX 5,471 ($70.40).

InterContinental Hotels Group Price Performance

The firm has a market cap of £14.93 billion, a P/E ratio of 3,169.49, a PEG ratio of 1.69 and a beta of 0.98. The company’s 50-day moving average is GBX 8,316.72 and its two-hundred day moving average is GBX 8,046.79.

Insider Buying and Selling

In other InterContinental Hotels Group news, insider Daniela Barone Soares sold 328 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of GBX 8,604 ($110.72), for a total transaction of £28,221.12 ($36,315.94). 5.99% of the stock is currently owned by company 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.