Rentokil Initial PLC (NYSE:RTO) Short Interest Up 25.2% in December

Rentokil Initial PLC (NYSE:RTO) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 3,882,315 shares, an increase of 25.2% from the November 30th total of 3,102,042 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 662,297 shares, the days-to-cover ratio is presently 5.9 days. Based on an average daily volume of 662,297 shares, the days-to-cover ratio is presently 5.9 days. Currently, 0.8% of the shares of the company are sold short.

Analyst Ratings Changes

RTO has been the topic of several research reports. Zacks Research raised shares of Rentokil Initial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rentokil Initial in a report on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rentokil Initial in a report on Wednesday, October 8th. Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Thursday, December 18th. Finally, Berenberg Bank raised Rentokil Initial to a “strong sell” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Rentokil Initial Price Performance

RTO opened at $29.48 on Friday. Rentokil Initial has a one year low of $19.60 and a one year high of $30.19. The company has a fifty day moving average price of $28.13 and a 200-day moving average price of $25.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12.

Institutional Trading of Rentokil Initial

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC grew its holdings in shares of Rentokil Initial by 416.9% during the second quarter. Parallel Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 913 shares in the last quarter. IFP Advisors Inc grew its stake in Rentokil Initial by 115.5% in the 2nd quarter. IFP Advisors Inc now owns 1,282 shares of the company’s stock worth $31,000 after buying an additional 687 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Rentokil Initial by 171.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock worth $43,000 after buying an additional 1,089 shares in the last quarter. State of Wyoming bought a new position in shares of Rentokil Initial in the 1st quarter worth $46,000. Finally, Cape Investment Advisory Inc. lifted its holdings in shares of Rentokil Initial by 67.4% during the 1st quarter. Cape Investment Advisory Inc. now owns 2,519 shares of the company’s stock worth $58,000 after acquiring an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 9.91% of the company’s stock.

About Rentokil Initial

Rentokil Initial PLC is a global business services company specializing in pest control, hygiene and workwear services. Headquartered in Crawley, West Sussex, United Kingdom, the company delivers outsourced solutions designed to protect people, preserve assets and enhance workplaces for both commercial and residential customers.

Under the Rentokil Pest Control brand, the company offers services ranging from routine inspections and treatment of insects, rodents and birds to specialised programmes for food manufacturing and healthcare environments.