Rentokil Initial (NYSE:RTO) Price Target Raised to $35.00

Rentokil Initial (NYSE:RTO) had its price objective hoisted by Oppenheimer from $30.00 to $35.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued reports about the stock. Zacks Research lowered shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rentokil Initial in a report on Friday, November 21st. Rothschild & Co Redburn downgraded Rentokil Initial from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. Finally, Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Rentokil Initial presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Rentokil Initial Stock Performance

Shares of RTO opened at $32.60 on Tuesday. 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 has a 50-day moving average price of $31.51 and a 200 day moving average price of $28.53. Rentokil Initial has a 52-week low of $19.60 and a 52-week high of $33.47.

Rentokil Initial Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, May 19th. Investors of record on Friday, April 10th will be issued a $0.412 dividend. This represents a dividend yield of 266.0%. The ex-dividend date is Friday, April 10th.

Institutional Trading of Rentokil Initial

A number of large investors have recently added to or reduced their stakes in RTO. Envestnet Asset Management Inc. increased its holdings in shares of 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 in the last quarter. Liberty One Investment Management LLC bought a new stake in shares of Rentokil Initial during the 3rd quarter worth $39,946,000. Clark Estates Inc. NY bought a new stake in shares of Rentokil Initial during the 3rd quarter worth $8,332,000. Nichols & Pratt Advisers LLP MA grew its holdings in shares of Rentokil Initial by 5.9% in the 3rd quarter. Nichols & Pratt Advisers LLP MA now owns 871,415 shares of the company’s stock worth $22,003,000 after acquiring an additional 48,184 shares during the last quarter. Finally, Advisor OS LLC acquired a new position in shares of Rentokil Initial in the 3rd quarter worth $1,014,000. 9.91% of the stock is currently owned by 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.