Rentokil Initial PLC (NYSE:RTO) Short Interest Up 25.2% in December

Rentokil Initial PLC (NYSE:RTO) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 3,882,315 shares, a growth of 25.2% from the November 30th total of 3,102,042 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 662,297 shares, the days-to-cover ratio is currently 5.9 days. Based on an average trading volume of 662,297 shares, the days-to-cover ratio is currently 5.9 days. Currently, 0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Sanford C. Bernstein raised Rentokil Initial from an “underperform” rating to an “outperform” rating in a research report on Tuesday, October 7th. Berenberg Bank raised shares of Rentokil Initial to a “strong sell” rating in a report on Monday, September 29th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rentokil Initial in a report on Friday, November 21st. Jefferies Financial Group raised shares of Rentokil Initial to a “strong-buy” rating in a research report on Wednesday, October 8th. 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 given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Hedge Funds Weigh In On Rentokil Initial

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its position 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 buying an additional 913 shares during the period. IFP Advisors Inc grew its holdings in shares of Rentokil Initial by 115.5% during the 2nd quarter. IFP Advisors Inc now owns 1,282 shares of the company’s stock worth $31,000 after acquiring an additional 687 shares during the period. Smartleaf Asset Management LLC raised its position in shares of 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 acquiring an additional 1,089 shares in the last quarter. State of Wyoming bought a new stake in Rentokil Initial during the first quarter worth about $46,000. Finally, Cape Investment Advisory Inc. boosted its position in shares of Rentokil Initial by 67.4% in the 1st quarter. Cape Investment Advisory Inc. now owns 2,519 shares of the company’s stock worth $58,000 after purchasing an additional 1,014 shares in the last quarter. 9.91% of the stock is currently owned by hedge funds and other institutional investors.

Rentokil Initial Price Performance

Shares of RTO stock traded down $0.23 during trading on Wednesday, reaching $29.67. 139,911 shares of the company’s stock traded hands, compared to its average volume of 780,250. The firm’s 50-day moving average is $28.08 and its 200 day moving average is $25.88. Rentokil Initial has a 1 year low of $19.60 and a 1 year high of $30.19. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12.

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.