Intercontinental Hotels Group (IHG) Reaches New 52-Week High at $5,063.00

Shares of Intercontinental Hotels Group (LON:IHG) reached a new 52-week high on Friday . The stock traded as high as GBX 5,063 ($66.16) and last traded at GBX 5,063 ($66.16), with a volume of 229780 shares trading hands. The stock had previously closed at GBX 5,034 ($65.78).

Several research firms have recently weighed in on IHG. Berenberg Bank increased their price target on shares of Intercontinental Hotels Group from GBX 4,850 ($63.37) to GBX 5,300 ($69.25) and gave the company a “buy” rating in a research note on Wednesday. UBS Group raised shares of Intercontinental Hotels Group to a “neutral” rating and increased their price target for the company from GBX 4,275 ($55.86) to GBX 4,500 ($58.80) in a research note on Wednesday, February 20th. Goldman Sachs Group dropped their price target on shares of Intercontinental Hotels Group from GBX 5,368.42 ($70.15) to GBX 5,100 ($66.64) and set a “neutral” rating for the company in a research note on Monday, April 15th. Societe Generale increased their price target on shares of Intercontinental Hotels Group from GBX 4,500 ($58.80) to GBX 4,800 ($62.72) and gave the company a “hold” rating in a research note on Wednesday, February 20th. Finally, Bryan, Garnier & Co restated a “sell” rating on shares of Intercontinental Hotels Group in a report on Tuesday, February 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Intercontinental Hotels Group presently has a consensus rating of “Hold” and a consensus target price of GBX 4,915 ($64.22).

The firm has a market capitalization of $9.08 billion and a P/E ratio of 26.31.

The firm also recently disclosed a dividend, which was paid on Tuesday, May 14th. Shareholders of record on Thursday, March 28th were given a dividend of $0.78 per share. This represents a yield of 1.31%. The ex-dividend date was Thursday, March 28th. Intercontinental Hotels Group’s payout ratio is currently 0.47%.

In other Intercontinental Hotels Group news, insider George Turner sold 10,000 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of GBX 4,613 ($60.28), for a total transaction of £461,300 ($602,770.16).

TRADEMARK VIOLATION NOTICE: This story was reported by Modern Readers and is the sole property of of Modern Readers. If you are viewing this story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.modernreaders.com/news/2019/05/17/intercontinental-hotels-group-ihg-reaches-new-52-week-high-at-5063-00.html.

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: Equity Income

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.