InterContinental Hotels Group (LON:IHG) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

InterContinental Hotels Group PLC (LON:IHG) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 8,516.93 ($104.22) and traded as high as £100.45 ($122.92). InterContinental Hotels Group shares last traded at £100.35 ($122.80), with a volume of 401,903 shares.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised InterContinental Hotels Group to a “buy” rating in a research note on Wednesday, September 18th. Two equities 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 5,471 ($66.95).

InterContinental Hotels Group Price Performance

The company has a fifty day simple moving average of GBX 9,463.34 and a two-hundred day simple moving average of GBX 8,516.93. The company has a market capitalization of £15.91 billion, a P/E ratio of 3,401.74, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Insider Activity

In related 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 ($105.29), for a total transaction of £28,221.12 ($34,533.92). 5.99% of the stock is currently 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.