Research analysts at JPMorgan Chase & Co. initiated coverage on shares of British American Tobacco (NYSE:BTI – Get Free Report) in a research note issued on Tuesday, Benzinga reports. The brokerage set an “overweight” rating on the stock.
BTI has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of British American Tobacco in a report on Thursday, October 1st. Jefferies Financial Group restated a “buy” rating on shares of British American Tobacco in a research report on Wednesday, September 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $68.10 target price on shares of British American Tobacco in a research note on Monday, September 7th. BTIG Research began coverage on British American Tobacco in a research note on Tuesday, July 21st. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group raised British American Tobacco from a “neutral” rating to a “buy” rating in a report on Monday, November 2nd. Fourteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.10.
Read Our Latest Stock Report on BTI
British American Tobacco Stock Down 1.4%
British American Tobacco stock opened at $60.07 on Tuesday. British American Tobacco has a 52-week low of $52.06 and a 52-week high of $67.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.84 and a quick ratio of 0.50. The firm has a 50-day moving average price of $57.10 and a two-hundred day moving average price of $59.26.
Institutional Investors Weigh In On British American Tobacco
Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of British American Tobacco by 34.4% during the 1st quarter. Bank of America Corp DE now owns 9,736,843 shares of the company’s stock valued at $569,313,000 after purchasing an additional 2,494,576 shares during the period. Royal Bank of Canada raised its stake in shares of British American Tobacco by 18.1% in the 1st quarter. Royal Bank of Canada now owns 2,413,551 shares of the company’s stock worth $141,120,000 after buying an additional 369,993 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of British American Tobacco by 3,899.7% in the first quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company’s stock valued at $137,658,000 after buying an additional 2,303,743 shares during the period. Maple Rock Capital Partners Inc. lifted its holdings in shares of British American Tobacco by 36.3% in the second quarter. Maple Rock Capital Partners Inc. now owns 2,166,000 shares of the company’s stock valued at $133,772,000 after buying an additional 576,900 shares during the period. Finally, Cullen Capital Management LLC boosted its stake in British American Tobacco by 11.8% during the third quarter. Cullen Capital Management LLC now owns 2,431,334 shares of the company’s stock valued at $132,265,000 after buying an additional 255,698 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.
British American Tobacco Company Profile
British American Tobacco p.l.c. is a multinational tobacco and nicotine company headquartered in London. Its business includes the manufacture and sale of cigarettes, other tobacco products and newer nicotine products. Its portfolio includes cigarette brands such as Dunhill, Lucky Strike and Pall Mall, as well as vaping, heated-tobacco and oral nicotine products sold under brands including Vuse, glo and Velo.
The company serves markets around the world, with operations spanning the Americas, Europe, Africa, the Middle East and Asia-Pacific.
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