Rentokil Initial (NYSE:RTO) Shares Gap Down – Here’s What Happened

Shares of Rentokil Initial PLC (NYSE:RTO) gapped down prior to trading on Thursday . The stock had previously closed at $32.50, but opened at $30.69. Rentokil Initial shares last traded at $30.8840, with a volume of 504,144 shares trading hands.

Wall Street Analysts Forecast Growth

RTO has been the topic of a number of research analyst reports. Morgan Stanley upgraded shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Bank of America raised shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rentokil Initial in a report on Thursday, January 22nd. Rothschild & Co Redburn cut Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.00.

Rentokil Initial Stock Performance

The firm’s fifty day moving average price is $30.84 and its 200 day moving average price is $27.64. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12.

Institutional Trading of Rentokil Initial

A number of hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new stake in Rentokil Initial during the fourth quarter worth $77,000. Marshall Wace LLP boosted its position in shares of Rentokil Initial by 54.1% during the 4th quarter. Marshall Wace LLP now owns 294,527 shares of the company’s stock valued at $8,677,000 after acquiring an additional 103,422 shares in the last quarter. Stanley Capital Management LLC increased its stake in Rentokil Initial by 9.3% in the fourth quarter. Stanley Capital Management LLC now owns 623,329 shares of the company’s stock valued at $18,363,000 after acquiring an additional 53,000 shares during the period. UMB Bank n.a. acquired a new position in Rentokil Initial in the fourth quarter worth about $75,000. Finally, Stifel Financial Corp lifted its stake in Rentokil Initial by 5.8% during the fourth quarter. Stifel Financial Corp now owns 158,581 shares of the company’s stock worth $4,672,000 after purchasing an additional 8,629 shares during the period. Institutional investors own 9.91% of the company’s stock.

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.