Rentokil Initial (NYSE:RTO) Shares Gap Up After Analyst Upgrade

Rentokil Initial PLC (NYSE:RTO) shares gapped up before the market opened on Thursday after UBS Group upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $31.73, but opened at $33.15. Rentokil Initial shares last traded at $32.7420, with a volume of 1,245,243 shares traded.

A number of other research firms have also recently weighed in on RTO. Morgan Stanley upgraded Rentokil Initial from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 6th. Oppenheimer boosted their target price on shares of Rentokil Initial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday. Rothschild & Co Redburn upgraded shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rentokil Initial in a report on Thursday, January 22nd. Finally, Zacks Research lowered shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rentokil Initial currently has an average rating of “Moderate Buy” and an average target price of $34.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its holdings in Rentokil Initial by 222.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,163 shares of the company’s stock worth $34,000 after purchasing an additional 802 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Rentokil Initial by 76.5% in the fourth quarter. GAMMA Investing LLC now owns 1,232 shares of the company’s stock valued at $36,000 after buying an additional 534 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Rentokil Initial during the fourth quarter valued at about $39,000. Smartleaf Asset Management LLC grew its holdings in Rentokil Initial by 171.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock worth $43,000 after acquiring an additional 1,089 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Rentokil Initial by 296.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,954 shares of the company’s stock worth $58,000 after acquiring an additional 1,461 shares in the last quarter. Institutional investors and hedge funds own 9.91% of the company’s stock.

Rentokil Initial Price Performance

The stock’s fifty day simple moving average is $31.45 and its two-hundred day simple moving average is $28.51. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.12 and a quick ratio of 1.03.

Rentokil Initial Announces Dividend

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

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.