InterContinental Hotels Group (LON:IHG) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of InterContinental Hotels Group PLC (LON:IHG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 8,087.87 ($102.64) and traded as high as GBX 9,554 ($121.24). InterContinental Hotels Group shares last traded at GBX 9,487.17 ($120.40), with a volume of 564,504 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently commented on IHG shares. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 7,400 ($93.91) price objective on shares of InterContinental Hotels Group in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 8,300 ($105.33) target price on shares of InterContinental Hotels Group in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upgraded shares of InterContinental Hotels Group to a “buy” rating in a research note 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of GBX 5,471 ($69.43).

InterContinental Hotels Group Stock Performance

The firm’s 50 day moving average is GBX 8,473.32 and its 200-day moving average is GBX 8,087.87. The stock has a market capitalization of £15.06 billion, a price-to-earnings ratio of 3,215.99, a PEG ratio of 1.69 and a beta of 0.98.

Insiders Place Their Bets

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 shares were sold at an average price of GBX 8,604 ($109.19), for a total transaction of £28,221.12 ($35,813.60). 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.