Rentokil Initial (NYSE:RTO) Upgraded by UBS Group to "Buy" Rating

Key Points

• UBS Group upgraded Rentokil Initial (NYSE:RTO) from a "neutral" rating to a "buy" in a note to investors.
• Shares jumped about 3.6% to $32.88 on the news, trading 1,088,621 shares and sitting near their 52‑week high of $33.47.
• Analyst sentiment is mixed but positive overall with a consensus rating of Moderate Buy and a $34.50 consensus price target, while institutional investors have recently increased positions (institutional ownership ~9.91%).

Rentokil Initial (NYSE:RTO - Get Free Report) was upgraded by equities researchers at UBS Group from a "neutral" rating to a "buy" rating in a note issued to investors on Thursday, Marketbeat.com reports.

RTO has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft cut Rentokil Initial from a "buy" rating to a "hold" rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Rentokil Initial in a research report on Friday, November 21st. 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 report on Thursday, December 18th. Zacks Research downgraded shares of Rentokil Initial from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 4th. Finally, Morgan Stanley upgraded shares of Rentokil Initial from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Rentokil Initial has a consensus rating of "Moderate Buy" and a consensus price target of $34.50.

Rentokil Initial Trading Up 3.6%

RTO traded up $1.15 on Thursday, hitting $32.88. 1,088,621 shares of the stock traded hands, compared to its average volume of 1,562,709. Rentokil Initial has a 52 week low of $19.60 and a 52 week high of $33.47. 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 $31.45 and a two-hundred day moving average price of $28.51.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Liberty One Investment Management LLC bought a new position in Rentokil Initial in the 3rd quarter valued at $39,946,000. QVIDTVM Management LLC lifted its stake in shares of Rentokil Initial by 669.1% during the third quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company's stock valued at $43,038,000 after acquiring an additional 1,482,865 shares during the period. Summitry LLC acquired a new position in shares of Rentokil Initial during the second quarter valued at $27,539,000. Sunriver Management LLC boosted its holdings in Rentokil Initial by 115.5% in the second quarter. Sunriver Management LLC now owns 2,057,126 shares of the company's stock valued at $49,371,000 after acquiring an additional 1,102,353 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Rentokil Initial by 143.5% in the second quarter. Bank of America Corp DE now owns 1,821,709 shares of the company's stock valued at $43,721,000 after acquiring an additional 1,073,471 shares during 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.

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