InterContinental Hotels Group (LON:IHG) Stock Price Passes Above 200 Day Moving Average – Here’s Why

InterContinental Hotels Group PLC (LON:IHG)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 8,331.99 ($105.71) and traded as high as GBX 9,976 ($126.57). InterContinental Hotels Group shares last traded at GBX 9,968 ($126.47), with a volume of 274,016 shares trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised 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 issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, InterContinental Hotels Group has an average rating of “Hold” and an average target price of GBX 5,471 ($69.41).

InterContinental Hotels Group Trading Down 0.1 %

The firm has a market capitalization of £15.79 billion, a P/E ratio of 3,378.98, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The company’s fifty day simple moving average is GBX 9,111.12 and its 200 day simple moving average is GBX 8,331.99.

Insider Activity at InterContinental Hotels Group

In other InterContinental Hotels Group news, insider Daniela Barone Soares sold 328 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of GBX 8,604 ($109.16), for a total value of £28,221.12 ($35,804.52). 5.99% of the stock is owned by corporate insiders.

About InterContinental Hotels Group

Our presence
IHG® Hotels & Resorts is a global hospitality company,
with 19 hotel brands, one of the industry’s largest
loyalty programmes, over 6,300 open hotels in more
than 100 countries, and a further 1,800 hotels in our
development pipeline.

Our ambition
To deliver industry-leading growth in our scale,
enterprise platform and performance, doing so
sustainably for all stakeholders, including our hotel
owners, guests and society as a whole.

Our strategy
To use our scale and expertise to create the
exceptional guest experiences and owner returns
needed to grow our brands in the industry’s most
valuable markets and segments.