Rollins price target lowered to $51 from $52 at Canaccord

Canaccord lowered the firm’s price target on Rollins (ROL) to $51 from $52 and keeps a Hold rating on the shares. The firm updated its model following Q1 results that were relatively in line with expectations. However, margins were pressured by lower volume in the first part of Q1 along with higher insurance and claims activity and adjusted EBITDA came in roughly 1% and roughly 4% below consensus.