Rentokil Initial (NYSE:RTO) Given New $35.00 Price Target at Oppenheimer

Rentokil Initial (NYSE:RTO) had its target price hoisted by Oppenheimer from $30.00 to $35.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

RTO has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. Morgan Stanley raised Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Thursday, December 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. Finally, Zacks Research cut Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rentokil Initial presently has a consensus rating of “Hold” and a consensus price target of $34.50.

Rentokil Initial Stock Performance

Shares of RTO opened at $30.97 on Tuesday. Rentokil Initial has a 1-year low of $19.60 and a 1-year high of $33.46. The company has a 50-day moving average of $31.40 and a 200 day moving average of $28.48. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79.

Rentokil Initial Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Friday, April 10th will be given a $0.412 dividend. This represents a dividend yield of 266.0%. The ex-dividend date of this dividend is Friday, April 10th.

Hedge Funds Weigh In On Rentokil Initial

Several institutional investors have recently bought and sold shares of the business. Van Diest Capital LLC bought a new position in Rentokil Initial in the fourth quarter worth approximately $343,000. Vident Advisory LLC bought a new stake in Rentokil Initial during the 4th quarter valued at $329,000. Millennium Management LLC purchased a new position in shares of Rentokil Initial in the 4th quarter valued at $939,000. III Capital Management increased its holdings in shares of Rentokil Initial by 15.6% in the 4th quarter. III Capital Management now owns 185,132 shares of the company’s stock valued at $5,454,000 after acquiring an additional 25,000 shares during the period. Finally, Boothbay Fund Management LLC raised its position in shares of Rentokil Initial by 15.6% in the 4th quarter. Boothbay Fund Management LLC now owns 34,841 shares of the company’s stock worth $1,026,000 after acquiring an additional 4,705 shares in the last quarter. 9.91% of the stock is owned by hedge funds and other institutional investors.

Rentokil Initial Company Profile

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.