InterContinental Hotels Group (LON:IHG) Sets New 52-Week Low – Here’s Why

InterContinental Hotels Group PLC (LON:IHG)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as GBX 104 and last traded at GBX 138.45, with a volume of 3432663 shares changing hands. The stock had previously closed at £104.60.

Analyst Ratings Changes

IHG has been the subject of several research analyst reports. Citigroup boosted their price target on shares of InterContinental Hotels Group from GBX 7,900 to GBX 8,000 and gave the company a “sell” rating in a report on Friday, October 24th. Deutsche Bank Aktiengesellschaft boosted their target price on InterContinental Hotels Group from GBX 7,900 to GBX 8,050 and gave the company a “hold” rating in a research note on Thursday, September 11th. UBS Group reaffirmed a “buy” rating and set a GBX 9,450 price target on shares of InterContinental Hotels Group in a research report on Friday, October 17th. Finally, JPMorgan Chase & Co. boosted their price objective on InterContinental Hotels Group from £104 to £119 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, InterContinental Hotels Group currently has a consensus rating of “Hold” and an average price target of GBX 7,499.

InterContinental Hotels Group Stock Performance

The company has a current ratio of 0.85, a quick ratio of 1.35 and a debt-to-equity ratio of -162.30. The stock’s 50 day moving average price is GBX 9,954.06 and its 200 day moving average price is GBX 9,193.64. The company has a market capitalization of £207.95 million, a price-to-earnings ratio of 0.29, a P/E/G ratio of 1.69 and a beta of 0.98.

About InterContinental Hotels Group

Our presence
IHG® Hotels & Resorts is a global hospitality company,
with 19 hotel brands, one of the industry’s largest
loyalty programmes, over 6,300 open hotels in more
than 100 countries, and a further 1,800 hotels in our
development pipeline.

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.