British American Tobacco (NYSE:BTI) Shares Up 6.5% – Here’s Why

British American Tobacco p.l.c. (NYSE:BTI) shares rose 6.5% during mid-day trading on Thursday . The stock traded as high as $62.45 and last traded at $62.5290. 4,977,001 shares were traded during trading, an increase of 9% from the average session volume of 4,546,632 shares. The stock had previously closed at $58.73.

Analysts Set New Price Targets

BTI has been the topic of several research analyst reports. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Wall Street Zen lowered British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings raised British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

British American Tobacco Stock Down 0.4%

The stock’s fifty day moving average price is $61.88 and its 200-day moving average price is $59.82. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66.

Hedge Funds Weigh In On British American Tobacco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTI. First Bank & Trust grew its stake in shares of British American Tobacco by 7.2% in the second quarter. First Bank & Trust now owns 78,564 shares of the company’s stock worth $4,852,000 after acquiring an additional 5,292 shares in the last quarter. Wealth Science Advisors LLC raised its stake in shares of British American Tobacco by 8.2% in the second quarter. Wealth Science Advisors LLC now owns 41,968 shares of the company’s stock valued at $2,592,000 after acquiring an additional 3,186 shares in the last quarter. HF Advisory Group LLC boosted its holdings in British American Tobacco by 8.0% in the second quarter. HF Advisory Group LLC now owns 55,111 shares of the company’s stock valued at $3,404,000 after purchasing an additional 4,087 shares during the period. Valeo Financial Advisors LLC grew its stake in British American Tobacco by 25.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,242 shares of the company’s stock worth $633,000 after purchasing an additional 2,052 shares in the last quarter. Finally, Trust Point Inc. purchased a new stake in British American Tobacco during the 2nd quarter worth about $233,000. Hedge funds and other 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.