Rentokil Initial (NYSE:RTO) Reaches New 1-Year High – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rentokil Initial in a report on Friday, November 21st. Jefferies Financial Group raised Rentokil Initial to a “strong-buy” rating in a research note on Wednesday, October 8th. Zacks Research raised Rentokil Initial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Thursday, December 18th. 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 given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Rentokil Initial Price Performance

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 business has a fifty day moving average price of $29.91 and a 200 day moving average price of $27.05.

Institutional Trading of Rentokil Initial

Several hedge funds and other institutional investors have recently bought and sold shares of RTO. Jane Street Group LLC raised its position in shares of Rentokil Initial by 292.0% during the first quarter. Jane Street Group LLC now owns 117,341 shares of the company’s stock valued at $2,687,000 after buying an additional 87,405 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Rentokil Initial by 15.9% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 16,649 shares of the company’s stock valued at $400,000 after acquiring an additional 2,288 shares during the period. Cromwell Holdings LLC raised its holdings in Rentokil Initial by 397.3% in the 2nd quarter. Cromwell Holdings LLC now owns 2,546 shares of the company’s stock valued at $61,000 after acquiring an additional 2,034 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Rentokil Initial by 31.2% in the 2nd quarter. Vontobel Holding Ltd. now owns 16,000 shares of the company’s stock worth $384,000 after acquiring an additional 3,805 shares during the period. Finally, Callan Family Office LLC acquired a new stake in shares of Rentokil Initial during the 2nd quarter worth approximately $214,000. 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.