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

Bank of America upgraded shares of Rentokil Initial (NYSE:RTO) from a neutral rating to a buy rating in a report published on Thursday, MarketBeat.com reports. They currently have $34.00 price objective on the stock.

RTO has been the subject of a number of other research reports. Jefferies Financial Group upgraded Rentokil Initial to a “strong-buy” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. Berenberg Bank raised shares of 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 research note on Tuesday, October 7th. Finally, Zacks Research raised shares of Rentokil Initial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.00.

Rentokil Initial Stock Down 0.6%

Shares of RTO stock opened at $29.78 on Thursday. The firm’s 50 day moving average price is $27.65 and its two-hundred day moving average price is $25.56. Rentokil Initial has a 52-week low of $19.60 and a 52-week high of $30.16.

Institutional Investors Weigh In On Rentokil Initial

Institutional investors have recently added to or reduced their stakes in the stock. Gates Capital Management Inc. increased its holdings in Rentokil Initial by 5.7% during the 1st quarter. Gates Capital Management Inc. now owns 6,615,305 shares of the company’s stock worth $151,490,000 after purchasing an additional 357,292 shares in the last quarter. Sunriver Management LLC lifted its holdings in shares of Rentokil Initial by 115.5% in the second quarter. Sunriver Management LLC now owns 2,057,126 shares of the company’s stock valued at $49,371,000 after purchasing an additional 1,102,353 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Rentokil Initial by 143.5% during the second quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock worth $43,721,000 after buying an additional 1,073,471 shares during the period. QVIDTVM Management LLC grew 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 worth $43,038,000 after buying an additional 1,482,865 shares in the last quarter. Finally, Liberty One Investment Management LLC bought a new position in shares of Rentokil Initial during the third quarter worth about $39,946,000. 9.91% of the stock is owned by institutional investors.

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.