Rentokil Initial (NYSE:RTO) Stock Rating Lowered by Zacks Research

Rentokil Initial (NYSE:RTO) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on RTO. UBS Group upgraded Rentokil Initial from a “neutral” rating to a “buy” rating in a research report on Thursday, March 12th. Oppenheimer increased their target price on Rentokil Initial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Rothschild & Co Redburn upgraded Rentokil Initial from a “sell” rating to a “neutral” rating in a research report on Wednesday, March 11th. Wall Street Zen cut Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, Deutsche Bank Aktiengesellschaft cut Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Rentokil Initial presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Rentokil Initial Stock Performance

NYSE:RTO opened at $30.34 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. Rentokil Initial has a 12-month low of $22.72 and a 12-month high of $34.67. The stock has a 50-day moving average price of $32.18 and a 200 day moving average price of $31.29.

Hedge Funds Weigh In On Rentokil Initial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in Rentokil Initial by 50.5% during the first quarter. Parallel Advisors LLC now owns 2,107 shares of the company’s stock valued at $66,000 after buying an additional 707 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Rentokil Initial by 1,098.7% during the first quarter. NewEdge Advisors LLC now owns 9,062 shares of the company’s stock valued at $285,000 after buying an additional 8,306 shares during the last quarter. Bank of America Corp DE boosted its stake in Rentokil Initial by 60.7% during the first quarter. Bank of America Corp DE now owns 6,650,998 shares of the company’s stock valued at $209,373,000 after buying an additional 2,511,135 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Rentokil Initial by 3.0% during the first quarter. Janus Henderson Group PLC now owns 16,591,965 shares of the company’s stock valued at $522,329,000 after buying an additional 490,885 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Rentokil Initial by 109.6% during the first quarter. EverSource Wealth Advisors LLC now owns 4,096 shares of the company’s stock valued at $129,000 after buying an additional 2,142 shares during the last quarter. 9.91% of the stock is owned by institutional investors.

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.