Rentokil Initial (NYSE:RTO) Reaches New 1-Year High – Still a Buy?

Rentokil Initial PLC (NYSE:RTO)’s stock price reached a new 52-week high on Monday . The stock traded as high as $30.22 and last traded at $30.21, with a volume of 328450 shares trading hands. The stock had previously closed at $29.87.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Zacks Research raised Rentokil Initial from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Sanford C. Bernstein raised shares of Rentokil Initial from an “underperform” rating to an “outperform” rating in a research report on Tuesday, October 7th. Berenberg Bank upgraded shares of Rentokil Initial to a “strong sell” rating in a report on Monday, September 29th. Bank of America upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Thursday, December 18th. Finally, Jefferies Financial Group raised shares of Rentokil Initial to a “strong-buy” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rentokil Initial currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Rentokil Initial Stock Performance

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 firm’s 50-day moving average is $28.14 and its two-hundred day moving average is $26.01.

Hedge Funds Weigh In On Rentokil Initial

Several hedge funds have recently bought and sold shares of the business. Sunriver Management LLC raised its holdings in 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 buying an additional 1,102,353 shares in the last quarter. Arlington Partners LLC acquired a new position in shares of Rentokil Initial during the 2nd quarter valued at about $1,639,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Rentokil Initial during the 2nd quarter valued at about $1,482,000. Bank of Montreal Can lifted its holdings in Rentokil Initial by 557.8% in the 2nd quarter. Bank of Montreal Can now owns 759,854 shares of the company’s stock worth $18,236,000 after purchasing an additional 644,341 shares during the last quarter. Finally, Stanley Capital Management LLC lifted its holdings in Rentokil Initial by 106.7% in the 2nd quarter. Stanley Capital Management LLC now owns 413,449 shares of the company’s stock worth $9,923,000 after purchasing an additional 213,449 shares during the last quarter. 9.91% of the stock is owned by institutional investors and hedge funds.

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.