British American Tobacco (NYSE:BTI) Sets New 12-Month High – Here’s Why

British American Tobacco p.l.c. (NYSE:BTI)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $59.43 and last traded at $59.4420, with a volume of 470894 shares. The stock had previously closed at $59.16.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BTI shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Citigroup restated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of British American Tobacco in a research note on Wednesday. Finally, Kepler Capital Markets began coverage on British American Tobacco in a research note on Friday, December 12th. They set a “buy” rating for the company. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Price Performance

The business has a fifty day simple moving average of $56.78 and a 200 day simple moving average of $55.01. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87.

Hedge Funds Weigh In On British American Tobacco

Several hedge funds have recently modified their holdings of BTI. True Wealth Design LLC bought a new position in shares of British American Tobacco in the third quarter valued at approximately $29,000. Cary Street Partners Financial LLC bought a new position in British American Tobacco in the 2nd quarter valued at $30,000. Salem Investment Counselors Inc. increased its position in shares of British American Tobacco by 48.6% during the 3rd quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock valued at $34,000 after purchasing an additional 207 shares during the last quarter. Binnacle Investments Inc raised its stake in shares of British American Tobacco by 163.2% during the 3rd quarter. Binnacle Investments Inc now owns 750 shares of the company’s stock worth $40,000 after purchasing an additional 465 shares during the period. Finally, Westside Investment Management Inc. boosted its holdings in shares of British American Tobacco by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 782 shares of the company’s stock worth $41,000 after buying an additional 391 shares during the last quarter. Institutional investors own 16.16% of the company’s stock.

About British American Tobacco

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.