Rentokil Initial (NYSE:RTO) Shares Gap Up – Still a Buy?

Rentokil Initial PLC (NYSE:RTO) shares gapped up prior to trading on Thursday . The stock had previously closed at $28.75, but opened at $32.22. Rentokil Initial shares last traded at $32.30, with a volume of 1,087,619 shares changing hands.

Analyst Ratings Changes

Several analysts recently issued reports on RTO shares. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rentokil Initial in a research note on Friday, November 21st. Morgan Stanley raised shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 6th. Bank of America raised shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Thursday, December 18th. Rothschild & Co Redburn downgraded shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Rentokil Initial from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.00.

Rentokil Initial Trading Up 11.5%

The company has a debt-to-equity ratio of 0.79, a current ratio of 1.12 and a quick ratio of 1.03. The business’s 50 day moving average is $31.27 and its 200-day moving average is $28.25.

Institutional Trading of Rentokil Initial

Large investors have recently bought and sold shares of the business. Liberty One Investment Management LLC bought a new position in Rentokil Initial in the third quarter valued at about $39,946,000. QVIDTVM Management LLC grew its holdings in shares of Rentokil Initial by 669.1% during the 3rd quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company’s stock valued at $43,038,000 after purchasing an additional 1,482,865 shares during the last quarter. Summitry LLC acquired a new position in Rentokil Initial during the 2nd quarter worth approximately $27,539,000. Sunriver Management LLC lifted its stake in Rentokil Initial by 115.5% in 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 during the last quarter. Finally, Bank of America Corp DE lifted its stake in Rentokil Initial by 143.5% in 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 during the last quarter. 9.91% of the stock is 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.