Rentokil Initial (NYSE:RTO) Shares Gap Down – What’s Next?

Rentokil Initial PLC (NYSE:RTO) shares gapped down before the market opened on Thursday . The stock had previously closed at $32.50, but opened at $30.69. Rentokil Initial shares last traded at $30.8840, with a volume of 504,144 shares traded.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RTO shares. Morgan Stanley raised shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. Rothschild & Co Redburn downgraded shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Bank of America upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Rentokil Initial Trading Down 6.8%

The firm’s fifty day moving average price is $30.76 and its two-hundred day moving average price is $27.58. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RTO. Liberty One Investment Management LLC acquired a new stake in Rentokil Initial in the third quarter valued at approximately $39,946,000. QVIDTVM Management LLC lifted its holdings in shares of Rentokil Initial by 669.1% in the 3rd quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company’s stock worth $43,038,000 after purchasing an additional 1,482,865 shares in the last quarter. Summitry LLC acquired a new stake in Rentokil Initial in the 2nd quarter valued at $27,539,000. Sunriver Management LLC increased its stake in Rentokil Initial by 115.5% during the 2nd 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. Finally, Bank of America Corp DE increased its stake in Rentokil Initial by 143.5% during the 2nd quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock valued at $43,721,000 after purchasing an additional 1,073,471 shares in the last quarter. Institutional investors own 9.91% of the company’s stock.

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.