InterContinental Hotels Group (LON:IHG) Stock Crosses Below 200 Day Moving Average – Here’s Why

Shares of InterContinental Hotels Group PLC (LON:IHG) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 508.81 and traded as low as GBX 156.50. InterContinental Hotels Group shares last traded at GBX 160.35, with a volume of 368,074 shares changing hands.

Wall Street Analyst Weigh In

IHG has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of InterContinental Hotels Group in a report on Friday, June 26th. UBS Group reissued a “neutral” rating and issued a GBX 150 price objective on shares of InterContinental Hotels Group in a research note on Tuesday, May 5th. Three equities 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, InterContinental Hotels Group currently has a consensus rating of “Hold” and a consensus price target of GBX 7,025.

InterContinental Hotels Group Trading Up 1.8%

The firm has a 50-day moving average of GBX 161.02 and a two-hundred day moving average of GBX 508.81. The firm has a market capitalization of £237.09 million, a P/E ratio of 0.33, a P/E/G ratio of 1.69 and a beta of 1.03. The company has a current ratio of 0.97, a quick ratio of 1.34 and a debt-to-equity ratio of -181.87.

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.