Rentokil Initial (NYSE:RTO) Sets New 52-Week High – What’s Next?

Rentokil Initial PLC (NYSE:RTO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $32.29 and last traded at $32.1160, with a volume of 2462687 shares traded. The stock had previously closed at $31.50.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RTO shares. Berenberg Bank upgraded shares of Rentokil Initial to a “strong sell” rating in a research report on Monday, September 29th. Zacks Research raised shares of Rentokil Initial from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Morgan Stanley upgraded shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Sanford C. Bernstein raised Rentokil Initial from an “underperform” rating to an “outperform” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Rentokil Initial Stock Up 2.4%

The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average is $29.02 and its 200 day moving average is $26.63.

Hedge Funds Weigh In On Rentokil Initial

A number of hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in shares of Rentokil Initial by 416.9% during the second quarter. Parallel Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after purchasing an additional 913 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Rentokil Initial by 115.5% in the 2nd quarter. IFP Advisors Inc now owns 1,282 shares of the company’s stock valued at $31,000 after acquiring an additional 687 shares in the last quarter. GAMMA Investing LLC boosted its position in Rentokil Initial by 76.5% during the fourth quarter. GAMMA Investing LLC now owns 1,232 shares of the company’s stock worth $36,000 after purchasing an additional 534 shares during the period. Smartleaf Asset Management LLC grew its holdings in Rentokil Initial by 171.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock valued at $43,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Cromwell Holdings LLC grew its holdings in Rentokil Initial by 397.3% during the second quarter. Cromwell Holdings LLC now owns 2,546 shares of the company’s stock valued at $61,000 after purchasing an additional 2,034 shares during the last quarter. 9.91% of the stock is currently owned by institutional investors and hedge funds.

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.