Rentokil Initial (NYSE:RTO) Shares Gap Up After Analyst Upgrade

Rentokil Initial PLC (NYSE:RTO) gapped up before the market opened on Thursday after UBS Group upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $31.73, but opened at $33.15. Rentokil Initial shares last traded at $32.7420, with a volume of 1,245,243 shares.

A number of other analysts have also issued reports on RTO. Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a report on Thursday, December 18th. Morgan Stanley raised Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft downgraded Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rentokil Initial in a research note on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Rentokil Initial by 222.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,163 shares of the company’s stock valued at $34,000 after acquiring an additional 802 shares during the last quarter. GAMMA Investing LLC increased its position in Rentokil Initial by 76.5% during the 4th quarter. GAMMA Investing LLC now owns 1,232 shares of the company’s stock worth $36,000 after purchasing an additional 534 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Rentokil Initial in the fourth quarter valued at approximately $39,000. Smartleaf Asset Management LLC lifted its position in Rentokil Initial by 171.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock valued at $43,000 after buying an additional 1,089 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in Rentokil Initial by 53.8% during the third quarter. IFP Advisors Inc now owns 1,972 shares of the company’s stock valued at $50,000 after buying an additional 690 shares in the last quarter. 9.91% of the stock is owned by hedge funds and other institutional investors.

Rentokil Initial Stock Up 3.5%

The firm’s 50 day simple moving average is $31.45 and its 200-day simple moving average is $28.51. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12.

Rentokil Initial Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, May 19th. Investors of record on Friday, April 10th will be issued a $0.412 dividend. This represents a yield of 266.0%. The ex-dividend date is Friday, April 10th.

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.