Rentokil Initial (NYSE:RTO) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Rentokil Initial (NYSE:RTO) from a "hold" to a strong sell, and Rothschild & Co Redburn issued a similar "strong sell" downgrade recently.
• Analyst views remain mixed with a MarketBeat consensus of "Hold" and a $34.00 price target (1 Strong Buy, 4 Buy, 2 Hold, 3 Sell), while Bank of America recently upgraded the stock to "Buy" with a $34 target.
• Shares opened at $31.99 (52-week range $19.60–$33.46) and the company shows modest leverage (debt-to-equity 0.79) with roughly 9.91% institutional ownership.

Rentokil Initial (NYSE:RTO - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on RTO. 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 research report on Thursday, December 18th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. JPMorgan Chase & Co. reissued an "overweight" rating on shares of Rentokil Initial in a research report on Friday, November 21st. Rothschild & Co Redburn downgraded Rentokil Initial from a "hold" rating to a "strong sell" rating in a research note on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft lowered Rentokil Initial from a "buy" rating to a "hold" rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Rentokil Initial currently has a consensus rating of "Hold" and a consensus price target of $34.00.

Rentokil Initial Price Performance

Shares of RTO opened at $31.99 on Wednesday. Rentokil Initial has a 52-week low of $19.60 and a 52-week high of $33.46. 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 price is $31.31 and its two-hundred day moving average price is $28.27.

Institutional Trading of Rentokil Initial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings in shares of Rentokil Initial by 292.0% in the first quarter. Jane Street Group LLC now owns 117,341 shares of the company's stock valued at $2,687,000 after purchasing an additional 87,405 shares in the last quarter. Bank of Montreal Can raised its position in Rentokil Initial by 557.8% in the 2nd quarter. Bank of Montreal Can now owns 759,854 shares of the company's stock valued at $18,236,000 after buying an additional 644,341 shares during the last quarter. Keystone Financial Services raised its position in Rentokil Initial by 7.9% in the 2nd quarter. Keystone Financial Services now owns 12,292 shares of the company's stock valued at $295,000 after buying an additional 900 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Rentokil Initial during the 2nd quarter valued at $804,000. Finally, Quinn Opportunity Partners LLC purchased a new position in Rentokil Initial during the 2nd quarter worth $1,011,000. 9.91% of the stock is owned by institutional investors.

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.

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