Royal Bank of Canada cut shares of InterContinental Hotels Group (NYSE:IHG) from a sector perform rating to an underperform rating in a report released on Thursday morning, The Fly reports.
A number of other research firms also recently commented on IHG. UBS Group set a $54.00 price objective on shares of Westlake Chemical and gave the company a sell rating in a research note on Tuesday, July 2nd. Barclays cut to an underweight rating and set a GBX 4,400 ($57.49) target price for the company. in a report on Tuesday, June 18th. Finally, Zacks Investment Research cut ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. Seven research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold.
NYSE IHG opened at $69.56 on Thursday. InterContinental Hotels Group has a 12 month low of $50.84 and a 12 month high of $70.35. The company’s 50-day moving average is $67.34.
Several large investors have recently modified their holdings of IHG. FDx Advisors Inc. purchased a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth about $287,000. Ferguson Wellman Capital Management Inc. raised its stake in shares of InterContinental Hotels Group by 0.6% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 155,435 shares of the company’s stock worth $10,396,000 after purchasing an additional 972 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth about $37,000. GYL Financial Synergies LLC purchased a new stake in shares of InterContinental Hotels Group during the 1st quarter worth about $237,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of InterContinental Hotels Group by 173.8% during the 1st quarter. CIBC Private Wealth Group LLC now owns 124,209 shares of the company’s stock worth $7,587,000 after purchasing an additional 78,848 shares in the last quarter. Institutional investors and hedge funds own 7.85% 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, 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.
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