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

InterContinental Hotels Group PLC (LON:IHG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 146.65 and traded as high as GBX 154.90. InterContinental Hotels Group shares last traded at GBX 152.50, with a volume of 38,671,387 shares trading hands.

Analysts Set New Price Targets

Several analysts recently weighed in on IHG shares. UBS Group reissued a “neutral” rating and set a GBX 150 price target on shares of InterContinental Hotels Group in a report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of InterContinental Hotels Group in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of GBX 7,025.

InterContinental Hotels Group Price Performance

The firm has a market cap of £225.48 million, a P/E ratio of 0.31, a PEG ratio of 1.69 and a beta of 1.03. The company has a debt-to-equity ratio of -181.87, a current ratio of 0.97 and a quick ratio of 1.34. The company’s 50-day moving average is GBX 161.85 and its two-hundred day moving average is GBX 146.65.

About InterContinental Hotels Group

Our presence
IHG® Hotels & Resorts is a global hospitality company, with a purpose to provide True Hospitality for Good. With a family of 20 hotel brands and IHG One Rewards, one of the world’s largest hotel loyalty programmes with over 160 million members, IHG has more than one million rooms across 6,963 open hotels in over 100 countries, and a development pipeline of a further 2,300 properties.

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.