Analysts Set Rentokil Initial PLC (NYSE:RTO) Target Price at $34.00

Rentokil Initial PLC (NYSE:RTO) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $34.00.

Several research analysts recently weighed in on the company. Berenberg Bank raised Rentokil Initial to a “strong sell” rating in a research note on Monday, September 29th. Sanford C. Bernstein raised shares of Rentokil Initial from an “underperform” rating to an “outperform” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. Zacks Research raised shares of Rentokil Initial from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Rentokil Initial in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Rentokil Initial

A number of hedge funds and other institutional investors have recently modified their holdings of RTO. Sunriver Management LLC raised its holdings in Rentokil Initial by 115.5% during the 2nd quarter. Sunriver Management LLC now owns 2,057,126 shares of the company’s stock worth $49,371,000 after buying an additional 1,102,353 shares during the period. Bank of America Corp DE increased its position in shares of Rentokil Initial by 143.5% in the second quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock worth $43,721,000 after acquiring an additional 1,073,471 shares in the last quarter. QVIDTVM Management LLC raised its holdings in shares of Rentokil Initial by 669.1% during the third quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company’s stock valued at $43,038,000 after acquiring an additional 1,482,865 shares during the period. Liberty One Investment Management LLC acquired a new stake in shares of Rentokil Initial during the third quarter valued at approximately $39,946,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Rentokil Initial by 105.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock valued at $39,232,000 after acquiring an additional 798,660 shares in the last quarter. Institutional investors and hedge funds own 9.91% of the company’s stock.

Rentokil Initial Stock Up 1.8%

Shares of NYSE RTO opened at $32.82 on Friday. Rentokil Initial has a 1 year low of $19.60 and a 1 year high of $32.84. The stock has a fifty day moving average price of $29.26 and a two-hundred day moving average price of $26.72. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.79.

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.