British American Tobacco (NYSE:BTI) Raised to “Hold” at Zacks Investment Research

British American Tobacco (NYSE:BTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “British American Tobacco is the holding company of a group of companies which manufacture, market and sell tobacco products. “

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley cut British American Tobacco from an “equal” rating to an “underweight” rating in a report on Monday, June 17th. Piper Jaffray Companies cut British American Tobacco from an “overweight” rating to a “neutral” rating in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $53.00.

Shares of BTI stock traded up $0.55 during mid-day trading on Wednesday, hitting $36.82. 1,278,290 shares of the company’s stock were exchanged, compared to its average volume of 2,241,207. British American Tobacco has a fifty-two week low of $30.67 and a fifty-two week high of $54.24. The company has a 50-day simple moving average of $36.71. The company has a current ratio of 0.73, a quick ratio of 0.39 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $78.34 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 1.25 and a beta of 0.86.

A number of institutional investors have recently modified their holdings of BTI. Federated Investors Inc. PA boosted its holdings in British American Tobacco by 47.4% in the first quarter. Federated Investors Inc. PA now owns 3,014,594 shares of the company’s stock valued at $125,769,000 after acquiring an additional 969,986 shares during the last quarter. Raymond James & Associates boosted its holdings in British American Tobacco by 45.4% in the first quarter. Raymond James & Associates now owns 2,560,134 shares of the company’s stock valued at $106,809,000 after acquiring an additional 799,254 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in British American Tobacco by 41.9% in the first quarter. Wells Fargo & Company MN now owns 2,602,012 shares of the company’s stock valued at $108,556,000 after acquiring an additional 768,134 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in British American Tobacco by 48.2% in the first quarter. Parametric Portfolio Associates LLC now owns 1,849,705 shares of the company’s stock valued at $77,170,000 after purchasing an additional 601,442 shares during the period. Finally, Newport Trust Co raised its position in British American Tobacco by 9.5% in the first quarter. Newport Trust Co now owns 4,573,501 shares of the company’s stock valued at $190,806,000 after purchasing an additional 395,970 shares during the period. Hedge funds and other institutional investors own 6.11% of the company’s stock.

British American Tobacco Company Profile

British American Tobacco p.l.c. provides cigarettes and other tobacco products worldwide. It manufactures vapour and tobacco heating products; oral tobacco and nicotine products, such as snus, tobacco-free nicotine pouches, and moist snuff; cigars; and e-cigarettes. The company offers its products under the Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Camel, Natural American Spirit, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, Benson & Hedges, John Player Gold Leaf, State Express 555, and Shuang Xi brands.

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