Rentokil Initial (NYSE:RTO) Shares Gap Up - Here's Why

Rentokil Initial plc (NYSE:RTO - Get Free Report)'s stock price 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.

Analysts Set New Price Targets

Separately, Redburn Atlantic downgraded shares of Rentokil Initial from a "buy" rating to a "neutral" rating in a research report on Thursday, September 19th. Five 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 company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $29.00.

Rentokil Initial Stock Up 3.3 %

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 firm has a fifty day moving average price of $25.39 and a 200 day moving average price of $27.83.

Hedge Funds Weigh In On Rentokil Initial

A number of institutional investors and hedge funds have recently made changes to their positions in RTO. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rentokil Initial by 403.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,052 shares of the company's stock valued at $31,000 after purchasing an additional 843 shares during the period. Anthracite Investment Company Inc. lifted its position in shares of Rentokil Initial by 211.3% during the 3rd quarter. Anthracite Investment Company Inc. now owns 214,402 shares of the company's stock valued at $5,345,000 after acquiring an additional 145,528 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Rentokil Initial by 165.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 55,604 shares of the company's stock worth $1,386,000 after acquiring an additional 34,687 shares in the last quarter. Veracity Capital LLC acquired a new stake in shares of Rentokil Initial in the 3rd quarter worth approximately $644,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Rentokil Initial by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 16,990,179 shares of the company's stock worth $423,573,000 after acquiring an additional 617,227 shares during the period. 9.91% of the stock is owned by institutional investors and hedge funds.

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.