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

InterContinental Hotels Group PLC (LON:IHG) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 8,758.69 and traded as high as GBX 9,766. InterContinental Hotels Group shares last traded at GBX 9,738, with a volume of 971,957 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IHG shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of InterContinental Hotels Group from GBX 7,900 to GBX 8,050 and gave the company a “hold” rating in a research note on Thursday, September 11th. Citigroup boosted their target price on shares of InterContinental Hotels Group from GBX 7,900 to GBX 8,000 and gave the company a “sell” rating in a report on Friday, October 24th. UBS Group reaffirmed a “buy” rating and set a GBX 9,450 price target on shares of InterContinental Hotels Group in a research note on Friday, October 17th. Finally, JPMorgan Chase & Co. upgraded shares of InterContinental Hotels Group to an “overweight” rating and lifted their price target for the company from GBX 8,500 to £104 in a report on Friday, September 26th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of GBX 7,199.

InterContinental Hotels Group Price Performance

The stock has a market cap of £14.70 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The company has a quick ratio of 1.35, a current ratio of 0.85 and a debt-to-equity ratio of -162.30. The company’s fifty day moving average is GBX 9,074.27 and its 200 day moving average is GBX 8,758.69.

InterContinental Hotels Group Company Profile

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.