Rentokil Initial (NYSE:RTO) Downgraded by Morgan Stanley to “Equal Weight”

Rentokil Initial (NYSE:RTO) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, MarketBeat reports.

Several other equities research analysts have also recently weighed in on the company. Investec upgraded Rentokil Initial to a “buy” rating in a report on Wednesday, September 23rd. BNP Paribas Exane cut Rentokil Initial from an “outperform” rating to a “neutral” rating and set a $26.70 target price on the stock. in a research note on Friday, July 31st. Zacks Research downgraded Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Rentokil Initial in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.90.

Rentokil Initial Stock Down 0.7%

NYSE RTO opened at $20.50 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.16 and a quick ratio of 1.07. Rentokil Initial has a 1 year low of $20.07 and a 1 year high of $34.67. The business’s 50-day moving average is $24.02 and its 200 day moving average is $28.78.

Institutional Trading of Rentokil Initial

A number of hedge funds have recently made changes to their positions in RTO. Continuum Advisory LLC purchased a new stake in shares of Rentokil Initial in the 2nd quarter worth approximately $42,000. V Square Quantitative Management LLC increased its position in Rentokil Initial by 84.5% during the 1st quarter. V Square Quantitative Management LLC now owns 1,395 shares of the company’s stock valued at $44,000 after buying an additional 639 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Rentokil Initial during the second quarter valued at $57,000. EverSource Wealth Advisors LLC raised its stake in Rentokil Initial by 296.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,954 shares of the company’s stock valued at $58,000 after buying an additional 1,461 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Rentokil Initial by 50.5% in the first quarter. Parallel Advisors LLC now owns 2,107 shares of the company’s stock worth $66,000 after acquiring an additional 707 shares in the last quarter. 9.91% of the stock is owned by institutional investors.

About Rentokil Initial

Rentokil Initial plc is a United Kingdom-based business services company specializing in pest control, hygiene and workplace services. Through its pest control operations, the company provides inspection, prevention and treatment programs for residential, commercial and industrial customers, addressing insects, rodents, birds and other pests.

The company also supplies hygiene and washroom services, including sanitary products, restroom equipment, air-care systems and related maintenance programs.