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

Rentokil Initial plc (NYSE:RTO) gapped up prior to trading on Friday . The stock had previously closed at $25.51, but opened at $26.46. Rentokil Initial shares last traded at $26.57, with a volume of 143,945 shares changing hands.

Wall Street Analyst Weigh In

Separately, Redburn Atlantic cut Rentokil Initial from a “buy” rating to a “neutral” rating in a research note on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rentokil Initial currently has an average rating of “Hold” and an average price target of $29.00.

Rentokil Initial Price Performance

The company has a quick ratio of 0.96, a current ratio of 1.04 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average of $25.39 and a 200-day moving average of $27.84.

Hedge Funds Weigh In On Rentokil Initial

Hedge funds have recently modified their holdings of the business. CWM LLC increased its holdings in shares of Rentokil Initial by 7.4% in the second quarter. CWM LLC now owns 5,551 shares of the company’s stock valued at $165,000 after purchasing an additional 382 shares during the period. Truist Financial Corp grew its position in Rentokil Initial by 2.6% in the 2nd quarter. Truist Financial Corp now owns 16,008 shares of the company’s stock valued at $475,000 after buying an additional 401 shares during the last quarter. Sunbelt Securities Inc. increased its stake in Rentokil Initial by 30.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,737 shares of the company’s stock valued at $43,000 after buying an additional 402 shares during the period. Signaturefd LLC raised its position in Rentokil Initial by 3.4% during the 2nd quarter. Signaturefd LLC now owns 12,321 shares of the company’s stock worth $365,000 after buying an additional 406 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC raised its position in Rentokil Initial by 19.1% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 4,736 shares of the company’s stock worth $140,000 after buying an additional 759 shares during 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, 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.