Rentokil Initial (NYSE:RTO) Upgraded to Buy at Bank of America

Rentokil Initial (NYSE:RTO) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Thursday,Finviz reports. The brokerage currently has a $34.00 price target on the stock. Bank of America‘s target price suggests a potential upside of 17.86% from the company’s current price.

RTO has been the subject of several other research reports. Jefferies Financial Group raised shares of Rentokil Initial to a “strong-buy” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. Sanford C. Bernstein upgraded shares of Rentokil Initial from an “underperform” rating to an “outperform” rating in a report on Tuesday, October 7th. Zacks Research raised shares of Rentokil Initial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a research note on Wednesday, October 8th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Rentokil Initial currently has an average rating of “Moderate Buy” and an average price target of $34.00.

Rentokil Initial Stock Performance

RTO stock opened at $28.85 on Thursday. The business has a 50 day simple moving average of $27.53 and a 200-day simple moving average of $25.48. Rentokil Initial has a 1 year low of $19.60 and a 1 year high of $30.10.

Institutional Investors Weigh In On Rentokil Initial

Several institutional investors have recently modified their holdings of RTO. Sunriver Management LLC boosted its holdings in shares of Rentokil Initial by 115.5% in the 2nd quarter. Sunriver Management LLC now owns 2,057,126 shares of the company’s stock valued at $49,371,000 after buying an additional 1,102,353 shares in the last quarter. Arlington Partners LLC acquired a new stake in Rentokil Initial during the 2nd quarter worth $1,639,000. Y Intercept Hong Kong Ltd purchased a new stake in Rentokil Initial in the second quarter valued at $1,482,000. Bank of Montreal Can boosted its stake in Rentokil Initial by 557.8% in the second quarter. Bank of Montreal Can now owns 759,854 shares of the company’s stock valued at $18,236,000 after acquiring an additional 644,341 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Rentokil Initial during the second quarter worth about $317,000. 9.91% of the stock is owned by hedge funds and other institutional investors.

About Rentokil Initial

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.