InterContinental Hotels Group (LON:IHG) Hits New 52-Week High – Time to Buy?

InterContinental Hotels Group PLC (LON:IHG)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 157.30 and last traded at GBX 157.15, with a volume of 305958 shares changing hands. The stock had previously closed at GBX 152.45.

Wall Street Analyst Weigh In

Several brokerages have commented on IHG. Jefferies Financial Group reaffirmed a “buy” rating on shares of InterContinental Hotels Group in a research note on Thursday, May 7th. UBS Group reissued a “neutral” rating and set a GBX 150 price objective on shares of InterContinental Hotels Group in a research report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of GBX 7,025.

InterContinental Hotels Group Price Performance

The company has a market cap of £229.59 million, a P/E ratio of 0.32, a P/E/G ratio of 1.69 and a beta of 1.03. The company’s 50-day moving average price is GBX 142.28 and its 200-day moving average price is GBX 2,877.46. The company has a debt-to-equity ratio of -181.87, a current ratio of 0.97 and a quick ratio of 1.35.

Insiders Place Their Bets

In other InterContinental Hotels Group news, insider Nicholas Cadbury bought 700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average price of £134.34 per share, with a total value of £94,038. Company insiders own 2.73% of the company’s stock.

InterContinental Hotels Group Company Profile

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.