InterContinental Hotels Group (NYSE:IHG) Downgraded by Royal Bank of Canada to “Underperform”

Royal Bank of Canada downgraded shares of InterContinental Hotels Group (NYSE:IHG) from a sector perform rating to an underperform rating in a research note issued to investors on Thursday morning, The Fly reports.

A number of other analysts have also issued reports on the company. UBS Group set a $54.00 target price on Westlake Chemical and gave the company a sell rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. Finally, Barclays lowered to an underweight rating and set a GBX 4,400 ($57.49) price objective on the stock. in a report on Tuesday, June 18th. Seven investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold.

IHG opened at $69.56 on Thursday. The firm has a 50 day simple moving average of $67.34. InterContinental Hotels Group has a 12-month low of $50.84 and a 12-month high of $70.35.

Several large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of InterContinental Hotels Group by 17.4% during the 4th quarter. FMR LLC now owns 6,848,786 shares of the company’s stock worth $373,875,000 after purchasing an additional 1,015,599 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of InterContinental Hotels Group by 3.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 367,153 shares of the company’s stock worth $22,429,000 after purchasing an additional 12,475 shares in the last quarter. Freestone Capital Holdings LLC acquired a new stake in shares of InterContinental Hotels Group during the 1st quarter worth approximately $10,089,000. Ferguson Wellman Capital Management Inc. grew its holdings 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. Finally, Dimensional Fund Advisors LP grew its holdings in shares of InterContinental Hotels Group by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 145,600 shares of the company’s stock worth $7,948,000 after purchasing an additional 3,373 shares in the last quarter. 7.85% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for InterContinental Hotels Group (NYSE:IHG)

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