Rentokil Initial (NYSE:RTO) Stock Price Expected to Rise, Oppenheimer Analyst Says

Key Points

• Oppenheimer raised its price target on Rentokil Initial from $30 to $35 and maintained an "outperform" rating, implying roughly a 12.9% upside from the prior close.
• Analyst sentiment is mixed—MarketBeat shows one Strong Buy, five Buy, two Hold and three Sell ratings, producing a consensus price target of $34.50 and an average rating of "Hold".
• Shares traded at $31.01 mid-day (1‑year range $19.60–$33.46) with 50‑ and 200‑day moving averages of $31.38 and $28.44, and about 9.9% of the stock held by institutional investors amid recent large position changes.

Rentokil Initial (NYSE:RTO - Get Free Report) had its price objective hoisted by research analysts at Oppenheimer from $30.00 to $35.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price target suggests a potential upside of 12.87% from the stock's previous close.

A number of other equities research analysts also recently commented on RTO. Zacks Research downgraded Rentokil Initial from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft cut Rentokil Initial from a "buy" rating to a "hold" rating in a report on Tuesday, February 24th. Rothschild & Co Redburn cut shares of Rentokil Initial from a "hold" rating to a "strong sell" rating in a research report on Friday, January 30th. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Rentokil Initial in a research report on Friday, November 21st. Finally, Bank of America upgraded shares of 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Rentokil Initial presently has an average rating of "Hold" and a consensus price target of $34.50.

Rentokil Initial Price Performance

NYSE RTO traded down $0.58 during mid-day trading on Tuesday, reaching $31.01. 287,287 shares of the stock were exchanged, compared to its average volume of 1,562,524. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.79. Rentokil Initial has a 1-year low of $19.60 and a 1-year high of $33.46. The business's fifty day simple moving average is $31.38 and its 200 day simple moving average is $28.44.

Institutional Trading of Rentokil Initial

Several large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its holdings in shares of Rentokil Initial by 105.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company's stock valued at $39,232,000 after buying an additional 798,660 shares during the period. Liberty One Investment Management LLC purchased a new position in Rentokil Initial in the 3rd quarter worth approximately $39,946,000. Clark Estates Inc. NY acquired a new stake in Rentokil Initial in the third quarter valued at approximately $8,332,000. Nichols & Pratt Advisers LLP MA raised its stake in shares of Rentokil Initial by 5.9% during the third quarter. Nichols & Pratt Advisers LLP MA now owns 871,415 shares of the company's stock valued at $22,003,000 after purchasing an additional 48,184 shares during the period. Finally, Sunriver Management LLC raised its stake in shares of Rentokil Initial by 115.5% during the second 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 period. 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.

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