Rentokil Initial (NYSE:RTO) Cut to Strong Sell at Zacks Research

Rentokil Initial (NYSE:RTO) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rentokil Initial in a report on Friday, November 21st. Rothschild & Co Redburn cut Rentokil Initial from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Rentokil Initial in a report on Thursday, January 22nd. Bank of America upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Thursday, December 18th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Rentokil Initial has a consensus rating of “Hold” and a consensus price target of $34.00.

Rentokil Initial Stock Performance

Rentokil Initial stock opened at $31.99 on Wednesday. Rentokil Initial has a 52 week low of $19.60 and a 52 week high of $33.46. The company’s 50 day moving average price is $31.31 and its two-hundred day moving average price is $28.27. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.12 and a quick ratio of 1.03.

Hedge Funds Weigh In On Rentokil Initial

Several hedge funds have recently made changes to their positions in RTO. Van Diest Capital LLC bought a new stake in shares of Rentokil Initial during the 4th quarter valued at $343,000. Vident Advisory LLC purchased a new position in Rentokil Initial during the 4th quarter valued at about $329,000. Millennium Management LLC purchased a new position in Rentokil Initial during the 4th quarter valued at about $939,000. III Capital Management increased its position in shares of Rentokil Initial by 15.6% during the fourth quarter. III Capital Management now owns 185,132 shares of the company’s stock valued at $5,454,000 after buying an additional 25,000 shares during the period. Finally, Boothbay Fund Management LLC lifted its holdings in shares of Rentokil Initial by 15.6% in the fourth quarter. Boothbay Fund Management LLC now owns 34,841 shares of the company’s stock worth $1,026,000 after buying an additional 4,705 shares in the last quarter. 9.91% of the stock is currently 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.