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

InterContinental Hotels Group PLC (LON:IHG) reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 151.90 and last traded at GBX 150.60, with a volume of 209130 shares. The stock had previously closed at GBX 150.40.

Wall Street Analysts Forecast Growth

IHG has been the subject of several recent analyst reports. Berenberg Bank reaffirmed a “buy” rating on shares of InterContinental Hotels Group in a research note on Monday, January 19th. Jefferies Financial Group reaffirmed a “buy” rating on shares of InterContinental Hotels Group in a research note on Thursday, May 7th. Finally, UBS Group reaffirmed a “neutral” rating and set a GBX 150 target price 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of GBX 7,025.

InterContinental Hotels Group Price Performance

The company has a fifty day moving average of GBX 138.63 and a 200-day moving average of GBX 3,399.89. The firm has a market cap of £224.30 million, a P/E ratio of 0.31, a P/E/G 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 1.35.

Insider Activity

In other news, insider Nicholas Cadbury bought 700 shares of the stock in a transaction on Wednesday, March 4th. The shares were purchased at an average cost of £134.34 per share, for a total transaction of £94,038. 2.73% of the stock is currently owned by insiders.

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.