Rentokil Initial (NYSE:RTO) Reaches New 12-Month High – Still a Buy?

Rentokil Initial PLC (NYSE:RTO) shares reached a new 52-week high on Monday . The stock traded as high as $31.92 and last traded at $32.0650, with a volume of 20186 shares. The stock had previously closed at $31.61.

Wall Street Analysts Forecast Growth

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

Rentokil Initial Trading Up 0.4%

The firm has a 50-day simple moving average of $28.43 and a 200-day simple moving average of $26.27. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79.

Institutional Trading of Rentokil Initial

Several institutional investors and hedge funds have recently bought and sold shares of RTO. Parallel Advisors LLC raised its stake in shares of Rentokil Initial by 416.9% in the second quarter. Parallel Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 913 shares during the last quarter. IFP Advisors Inc boosted its position in Rentokil Initial by 115.5% in the second quarter. IFP Advisors Inc now owns 1,282 shares of the company’s stock valued at $31,000 after buying an additional 687 shares during the last quarter. GAMMA Investing LLC increased its holdings in Rentokil Initial by 76.5% in the 4th quarter. GAMMA Investing LLC now owns 1,232 shares of the company’s stock worth $36,000 after buying an additional 534 shares during the period. Smartleaf Asset Management LLC raised its position in Rentokil Initial by 171.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock worth $43,000 after buying an additional 1,089 shares during the last quarter. Finally, Cromwell Holdings LLC lifted its stake in Rentokil Initial by 397.3% during the 2nd quarter. Cromwell Holdings LLC now owns 2,546 shares of the company’s stock valued at $61,000 after acquiring an additional 2,034 shares during the period. 9.91% of the stock is currently owned by hedge funds and other institutional investors.

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.