Citigroup Cuts InterContinental Hotels Group (LON:IHG) Price Target to GBX 7,500

InterContinental Hotels Group (LON:IHG - Get Free Report) had its price target decreased by equities researchers at Citigroup from GBX 8,900 ($118.34) to GBX 7,500 ($99.72) in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has a "sell" rating on the stock. Citigroup's target price points to a potential downside of 1.21% from the stock's previous close.

A number of other brokerages have also commented on IHG. Jefferies Financial Group reissued a "hold" rating and set a GBX 95 ($1.26) price target on shares of InterContinental Hotels Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. restated an "underweight" rating and issued a GBX 7,800 ($103.71) price target on shares of InterContinental Hotels Group in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of GBX 6,159 ($81.89).

InterContinental Hotels Group Price Performance

InterContinental Hotels Group stock traded down GBX 52 ($0.69) during mid-day trading on Tuesday, reaching GBX 7,592 ($100.94). The company had a trading volume of 645,992 shares, compared to its average volume of 4,296,355. The business has a fifty day simple moving average of GBX 8,794.08 and a 200 day simple moving average of GBX 9,235.92. The company has a market cap of £15.22 billion, a P/E ratio of 24.92, a P/E/G ratio of 1.69 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 1.35 and a debt-to-equity ratio of -162.30. InterContinental Hotels Group has a fifty-two week low of GBX 7,032 ($93.50) and a fifty-two week high of £109.75 ($145.92).

Insider Buying and Selling

In related news, insider Byron Elmer Grote acquired 400 shares of the business's stock in a transaction dated Friday, February 21st. The shares were bought at an average price of £127.25 ($169.19) per share, with a total value of £50,900 ($67,677.17). 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.