Intercontinental Hotels Group (LON:IHG) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3,841.84 and traded as high as $4,067.00. Intercontinental Hotels Group shares last traded at $3,939.00, with a volume of 652,912 shares traded.

Several brokerages recently issued reports on IHG. Barclays restated an “overweight” rating on shares of Intercontinental Hotels Group in a research note on Thursday, July 2nd. Societe Generale raised their price objective on Intercontinental Hotels Group from GBX 3,100 ($40.53) to GBX 3,900 ($50.99) and gave the stock a “hold” rating in a research note on Tuesday, July 7th. Peel Hunt restated a “buy” rating on shares of Intercontinental Hotels Group in a research note on Friday, July 3rd. Citigroup restated a “sell” rating on shares of Intercontinental Hotels Group in a research note on Monday, July 6th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Intercontinental Hotels Group in a research note on Wednesday, July 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of GBX 3,943.85 ($51.56).

The company has a market capitalization of $7.36 billion and a P/E ratio of 19.10. The business has a 50 day simple moving average of GBX 3,826.38 and a 200-day simple moving average of GBX 3,838.20.

In other Intercontinental Hotels Group news, insider Arthur de Haast purchased 1,000 shares of the stock in a transaction dated Friday, May 29th. The shares were bought at an average cost of GBX 4,000 ($52.29) per share, with a total value of £40,000 ($52,294.42).

About Intercontinental Hotels Group (LON:IHG)

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, resorts, and restaurants under the InterContinental, KIMPTON, Hotel Indigo, EVEN HOTELS, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.

Read More: How to track put option volume

Receive News & Ratings for Intercontinental Hotels Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Intercontinental Hotels Group and related companies with MarketBeat.com’s FREE daily email newsletter.

Source Article