Rentokil Initial (NYSE:RTO) Hits New 52-Week High – Here’s What Happened

Rentokil Initial PLC (NYSE:RTO)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $33.46 and last traded at $33.4150, with a volume of 1005526 shares changing hands. The stock had previously closed at $32.81.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RTO. Jefferies Financial Group upgraded shares of Rentokil Initial to a “strong-buy” rating in a research note on Wednesday, October 8th. Bank of America raised Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Thursday, December 18th. Morgan Stanley raised Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 6th. Sanford C. Bernstein upgraded Rentokil Initial from an “underperform” rating to an “outperform” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rentokil Initial has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Rentokil Initial Stock Up 1.8%

The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12. The firm’s fifty day moving average price is $29.66 and its two-hundred day moving average price is $26.97.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RTO. GAMMA Investing LLC boosted its stake in shares of Rentokil Initial by 76.5% during the 4th quarter. GAMMA Investing LLC now owns 1,232 shares of the company’s stock worth $36,000 after acquiring an additional 534 shares in the last quarter. IFP Advisors Inc raised its holdings in Rentokil Initial by 115.5% in the 2nd quarter. IFP Advisors Inc now owns 1,282 shares of the company’s stock worth $31,000 after purchasing an additional 687 shares during the period. Smartleaf Asset Management LLC raised its holdings in Rentokil Initial by 171.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock worth $43,000 after purchasing an additional 1,089 shares during the period. Cromwell Holdings LLC boosted its position in Rentokil Initial by 397.3% during the second quarter. Cromwell Holdings LLC now owns 2,546 shares of the company’s stock worth $61,000 after purchasing an additional 2,034 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Rentokil Initial by 40.9% in the fourth quarter. Signaturefd LLC now owns 3,054 shares of the company’s stock valued at $90,000 after purchasing an additional 886 shares during the period. Institutional investors and hedge funds own 9.91% of the company’s stock.

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.