InterContinental Hotels Group (LON:IHG) Shares Pass Above 200-Day Moving Average - Here's What Happened

InterContinental Hotels Group PLC (LON:IHG - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 7,930.91 ($103.79) and traded as high as GBX 8,420 ($110.20). InterContinental Hotels Group shares last traded at GBX 8,358 ($109.38), with a volume of 245,049 shares traded.

Wall Street Analysts Forecast Growth

IHG has been the subject of several research reports. The Goldman Sachs Group raised InterContinental Hotels Group to a "buy" rating in a report on Wednesday, September 18th. Berenberg Bank reiterated a "hold" rating and issued a GBX 7,400 ($96.85) price objective on shares of InterContinental Hotels Group in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 8,300 ($108.62) target price on shares of InterContinental Hotels Group in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of GBX 5,471 ($71.60).

InterContinental Hotels Group Stock Down 0.3 %

The business has a 50 day moving average of GBX 7,723.63 and a 200 day moving average of GBX 7,932.70. The firm has a market cap of £13.21 billion, a price-to-earnings ratio of 2,824.41, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

InterContinental Hotels Group Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, August 29th were given a $0.53 dividend. This represents a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 29th. InterContinental Hotels Group's dividend payout ratio is presently 4,237.29%.

Insider Buying and Selling at InterContinental Hotels Group

In related news, insider Ron Kalifa purchased 679 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of GBX 7,624 ($99.78) per share, with a total value of £51,766.96 ($67,748.93). 5.99% of the stock is currently owned by 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.