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

InterContinental Hotels Group PLC (LON:IHG) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 8,374 ($104.94) and traded as high as £100.60 ($126.07). InterContinental Hotels Group shares last traded at £100.05 ($125.38), with a volume of 39,945 shares trading hands.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised shares of InterContinental Hotels Group to a “buy” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 5,471 ($68.56).

InterContinental Hotels Group Stock Performance

The business has a 50-day simple moving average of GBX 9,167.28 and a 200-day simple moving average of GBX 8,374. The company has a market cap of £15.86 billion, a price-to-earnings ratio of 3,391.53, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Insider Buying and Selling

In other 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 ($107.82), for a total value of £28,221.12 ($35,364.81). 5.99% of the stock is owned by 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.