InterContinental Hotels Group (LON:IHG) Reaches New 12-Month High – Time to Buy?

InterContinental Hotels Group PLC (LON:IHG) shares hit a new 52-week high on Thursday . The company traded as high as GBX 9,660 ($122.23) and last traded at GBX 9,610.18 ($121.60), with a volume of 243257 shares trading hands. The stock had previously closed at GBX 9,520 ($120.46).

Analysts Set New Price Targets

A number of research firms have issued reports on IHG. Berenberg Bank reiterated a “hold” rating and issued a GBX 7,400 ($93.64) price objective on shares of InterContinental Hotels Group in a report on Thursday, August 15th. The Goldman Sachs Group raised shares of InterContinental Hotels Group to a “buy” rating in a report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 8,300 ($105.02) price target on shares of InterContinental Hotels Group in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, InterContinental Hotels Group currently has an average rating of “Hold” and an average price target of GBX 5,471 ($69.23).

InterContinental Hotels Group Stock Performance

The firm’s fifty day moving average is GBX 8,510.32 and its 200 day moving average is GBX 8,099.30. The company has a market capitalization of £15.23 billion, a P/E ratio of 3,227.12, a P/E/G ratio of 1.69 and a beta of 0.98.

Insider Buying and Selling

In other news, insider Daniela Barone Soares sold 328 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of GBX 8,604 ($108.87), for a total transaction of £28,221.12 ($35,709.38). 5.99% of the stock is owned by insiders.

About InterContinental Hotels Group

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.