Rentokil Initial (NYSE:RTO) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Rentokil Initial (NYSE:RTO) from a hold rating to a strong sell rating in a research note published on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. Rothschild & Co Redburn cut Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rentokil Initial in a report on Friday, November 21st. Deutsche Bank Aktiengesellschaft downgraded Rentokil Initial from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Bank of America upgraded 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.00.

Rentokil Initial Stock Performance

Shares of NYSE:RTO traded down $0.24 on Wednesday, hitting $31.75. The company had a trading volume of 551,974 shares, compared to its average volume of 1,543,925. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.79. Rentokil Initial has a 52-week low of $19.60 and a 52-week high of $33.46. The business has a 50 day moving average of $31.31 and a 200 day moving average of $28.27.

Institutional Trading of Rentokil Initial

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in Rentokil Initial by 105.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock valued at $39,232,000 after buying an additional 798,660 shares during the last quarter. Liberty One Investment Management LLC bought a new stake in shares of Rentokil Initial in the 3rd quarter valued at approximately $39,946,000. Clark Estates Inc. NY acquired a new stake in shares of Rentokil Initial during the 3rd quarter valued at approximately $8,332,000. Nichols & Pratt Advisers LLP MA lifted its stake in Rentokil Initial by 5.9% during the third quarter. Nichols & Pratt Advisers LLP MA now owns 871,415 shares of the company’s stock worth $22,003,000 after purchasing an additional 48,184 shares during the last quarter. Finally, Sunriver Management LLC boosted its holdings in Rentokil Initial by 115.5% in the second quarter. Sunriver Management LLC now owns 2,057,126 shares of the company’s stock worth $49,371,000 after purchasing an additional 1,102,353 shares during the period. Institutional investors and hedge funds own 9.91% of the company’s stock.

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.