Rentokil Initial (NYSE:RTO) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Rentokil Initial PLC (NYSE:RTO) saw an uptick in trading volume on Friday . Approximately 676,154 shares were traded during mid-day trading, a decline of 45% from the previous session’s volume of 1,235,602 shares.The stock last traded at $23.6460 and had previously closed at $24.25.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RTO shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Rentokil Initial in a research note on Wednesday, June 24th. The Goldman Sachs Group raised Rentokil Initial from a “neutral” rating to a “buy” rating in a research report on Monday, July 6th. Wall Street Zen lowered Rentokil Initial from a “buy” rating to a “hold” rating in a report on Monday, July 20th. BNP Paribas Exane lowered Rentokil Initial from an “outperform” rating to a “neutral” rating and set a $26.70 target price for the company. in a report on Friday. Finally, Zacks Research downgraded Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Rentokil Initial presently has an average rating of “Moderate Buy” and a consensus price target of $31.90.

Rentokil Initial Trading Down 2.7%

The stock has a fifty day moving average of $29.61 and a 200 day moving average of $31.27. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.76.

Hedge Funds Weigh In On Rentokil Initial

Several institutional investors have recently bought and sold shares of the stock. Elevation Point Wealth Partners LLC lifted its holdings in shares of Rentokil Initial by 4.7% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 7,299 shares of the company’s stock worth $230,000 after acquiring an additional 328 shares during the last quarter. Evergreen Capital Management LLC increased its stake in Rentokil Initial by 5.4% in the fourth quarter. Evergreen Capital Management LLC now owns 10,425 shares of the company’s stock valued at $307,000 after acquiring an additional 531 shares during the last quarter. GAMMA Investing LLC raised its position in Rentokil Initial by 76.5% during the fourth quarter. GAMMA Investing LLC now owns 1,232 shares of the company’s stock valued at $36,000 after purchasing an additional 534 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Rentokil Initial by 2.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 24,151 shares of the company’s stock valued at $711,000 after purchasing an additional 619 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in Rentokil Initial by 84.5% during the first quarter. V Square Quantitative Management LLC now owns 1,395 shares of the company’s stock worth $44,000 after purchasing an additional 639 shares during the last quarter. 9.91% of the stock is 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.