InterContinental Hotels Group (LON:IHG) Sets New 1-Year High - What's Next?

InterContinental Hotels Group PLC (LON:IHG - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 9,028 ($117.52) and last traded at GBX 9,010 ($117.29), with a volume of 3179232 shares trading hands. The stock had previously closed at GBX 8,554 ($111.35).

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IHG shares. The Goldman Sachs Group raised InterContinental Hotels Group to a "buy" rating in a research note on Wednesday, September 18th. Berenberg Bank reaffirmed a "hold" rating and set a GBX 7,400 ($96.33) price objective on shares of InterContinental Hotels Group in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 8,300 ($108.04) price objective on shares of InterContinental Hotels Group in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of GBX 5,471 ($71.22).

InterContinental Hotels Group Stock Up 5.2 %

The stock's fifty day moving average price is GBX 8,155.68 and its two-hundred day moving average price is GBX 8,000.48. The company has a market capitalization of £14.27 billion, a PE ratio of 3,047.46, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Insider Transactions at InterContinental Hotels Group

In other news, insider Daniela Barone Soares sold 328 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of GBX 8,604 ($112.00), for a total transaction of £28,221.12 ($36,736.68). 5.99% of the stock is currently owned by company insiders.

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.