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

InterContinental Hotels Group PLC (LON:IHG) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 7,955.68 ($103.29) and traded as high as GBX 8,714 ($113.14). InterContinental Hotels Group shares last traded at GBX 8,714 ($113.14), with a volume of 530,809 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IHG. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 8,300 ($107.76) target price on shares of InterContinental Hotels Group in a research note on Thursday, August 1st. The Goldman Sachs Group raised shares of InterContinental Hotels Group to a “buy” rating in a research note on Wednesday, September 18th. Finally, Berenberg Bank reissued a “hold” rating and set a GBX 7,400 ($96.08) target price on shares of InterContinental Hotels Group in a research note on Thursday, August 15th. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 5,471 ($71.03).

InterContinental Hotels Group Price Performance

The firm has a fifty day moving average of GBX 7,936.43 and a two-hundred day moving average of GBX 7,955.68. The stock has a market capitalization of £13.81 billion, a P/E ratio of 2,953.90, a P/E/G ratio of 1.69 and a beta of 0.98.

InterContinental Hotels Group Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, August 29th were given a $0.53 dividend. This represents a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 29th. InterContinental Hotels Group’s payout ratio is 4,237.29%.

Insider Buying and Selling at InterContinental Hotels Group

In other news, insider Ron Kalifa acquired 679 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of GBX 7,624 ($98.99) per share, with a total value of £51,766.96 ($67,212.36). Insiders own 5.99% of the company’s stock.

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.