Rentokil Initial PLC (NYSE:RTO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Rentokil Initial PLC (NYSE:RTO) have been given a consensus rating of “Moderate Buy” by the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $34.00.

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. Jefferies Financial Group raised shares of Rentokil Initial to a “strong-buy” rating in a report on Wednesday, October 8th. Bank of America raised Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Thursday, December 18th. Morgan Stanley upgraded Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rentokil Initial in a research note on Friday, November 21st.

Institutional Trading of Rentokil Initial

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sunriver Management LLC raised its holdings in Rentokil Initial by 115.5% during the 2nd quarter. Sunriver Management LLC now owns 2,057,126 shares of the company’s stock valued at $49,371,000 after acquiring an additional 1,102,353 shares during the period. Bank of America Corp DE grew its position in shares of Rentokil Initial by 143.5% in the second quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock valued at $43,721,000 after purchasing an additional 1,073,471 shares in the last quarter. QVIDTVM Management LLC raised its stake in shares of Rentokil Initial by 669.1% during the 3rd quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company’s stock valued at $43,038,000 after purchasing an additional 1,482,865 shares during the period. Liberty One Investment Management LLC purchased a new stake in Rentokil Initial during the 3rd quarter worth about $39,946,000. Finally, Envestnet Asset Management Inc. boosted its stake in Rentokil Initial by 105.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock worth $39,232,000 after purchasing an additional 798,660 shares during the period. Institutional investors own 9.91% of the company’s stock.

Rentokil Initial Price Performance

RTO stock opened at $31.55 on Friday. Rentokil Initial has a 52 week low of $19.60 and a 52 week high of $32.20. The company’s 50-day simple moving average is $28.84 and its 200 day simple moving average is $26.51. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12.

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.