Redburn Atlantic Downgrades Rentokil Initial (NYSE:RTO) to Neutral

Rentokil Initial (NYSE:RTO) was downgraded by equities researchers at Redburn Atlantic from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports.

Other equities research analysts have also issued reports about the stock. Sanford C. Bernstein raised shares of Rentokil Initial from an “underperform” rating to a “market perform” rating in a report on Monday, July 22nd. Barclays upgraded shares of Rentokil Initial to a “strong-buy” rating in a research note on Friday, July 26th. Finally, UBS Group upgraded shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.00.

Rentokil Initial Stock Down 1.1 %

RTO opened at $24.50 on Thursday. The company has a fifty day simple moving average of $30.09 and a 200 day simple moving average of $29.10. Rentokil Initial has a twelve month low of $23.39 and a twelve month high of $37.44.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC bought a new position in shares of Rentokil Initial in the 1st quarter worth about $575,000. Lazard Asset Management LLC lifted its position in shares of Rentokil Initial by 345,196.7% in the 1st quarter. Lazard Asset Management LLC now owns 1,560,741 shares of the company’s stock worth $47,056,000 after buying an additional 1,560,289 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Rentokil Initial by 13.8% in the 4th quarter. Schroder Investment Management Group now owns 2,025,479 shares of the company’s stock worth $57,949,000 after buying an additional 246,253 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Rentokil Initial by 5.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,015,514 shares of the company’s stock worth $60,768,000 after buying an additional 109,561 shares during the last quarter. Finally, Gates Capital Management Inc. lifted its position in shares of Rentokil Initial by 11.4% in the 4th quarter. Gates Capital Management Inc. now owns 5,155,193 shares of the company’s stock worth $147,490,000 after buying an additional 528,409 shares during the last quarter. 9.91% of the stock is currently owned by institutional investors.

About Rentokil Initial

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.