Oppenheimer Raises Rentokil Initial (NYSE:RTO) Price Target to $35.00

Rentokil Initial (NYSE:RTO) had its price target increased by Oppenheimer from $30.00 to $35.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 12.87% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. 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 note on Friday, November 21st. Deutsche Bank Aktiengesellschaft lowered Rentokil Initial from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Zacks Research lowered Rentokil Initial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.50.

Rentokil Initial Price Performance

Shares of RTO traded down $0.58 during trading on Tuesday, reaching $31.01. The company’s stock had a trading volume of 287,287 shares, compared to its average volume of 1,562,524. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12. The company has a fifty day moving average of $31.38 and a two-hundred day moving average of $28.44. Rentokil Initial has a twelve month low of $19.60 and a twelve month high of $33.46.

Institutional Investors Weigh In On Rentokil Initial

Large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its holdings in shares of Rentokil Initial by 105.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock valued at $39,232,000 after acquiring an additional 798,660 shares during the period. Liberty One Investment Management LLC acquired a new position in Rentokil Initial during the 3rd quarter valued at about $39,946,000. Clark Estates Inc. NY bought a new position in Rentokil Initial in the 3rd quarter worth about $8,332,000. Nichols & Pratt Advisers LLP MA raised its holdings 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 buying an additional 48,184 shares during the last quarter. Finally, Sunriver Management LLC boosted its position 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 worth $49,371,000 after buying an additional 1,102,353 shares during the period. 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.