InterContinental Hotels Group PLC (LON:IHG – Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 7,955.68 ($103.29) and traded as high as GBX 8,714 ($113.14). InterContinental Hotels Group shares last traded at GBX 8,714 ($113.14), with a volume of 530,809 shares changing hands.
Analyst Ratings Changes
A number of brokerages have recently issued reports on IHG. Berenberg Bank reiterated a “hold” rating and set a GBX 7,400 ($96.08) price target on shares of InterContinental Hotels Group in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 8,300 ($107.76) target price on shares of InterContinental Hotels Group in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group upgraded InterContinental Hotels Group to a “buy” rating in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, InterContinental Hotels Group currently has a consensus rating of “Hold” and a consensus price target of GBX 5,471 ($71.03).
Read Our Latest Stock Analysis on InterContinental Hotels Group
InterContinental Hotels Group Stock Performance
InterContinental Hotels Group Cuts Dividend
The business also recently declared a dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, August 29th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a yield of 0.57%. InterContinental Hotels Group’s dividend payout ratio (DPR) is currently 4,237.29%.
Insiders Place Their Bets
In related news, insider Ron Kalifa purchased 679 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of GBX 7,624 ($98.99) per share, with a total value of £51,766.96 ($67,212.36). Insiders own 5.99% of the company’s stock.
InterContinental Hotels Group Company Profile
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.
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