British American Tobacco (NYSE:BTI) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of British American Tobacco (NYSE:BTI) from a buy rating to a hold rating in a report issued on Sunday morning.

BTI has been the topic of a number of other research reports. Weiss Ratings raised shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Morgan Stanley restated an “overweight” rating on shares of British American Tobacco in a report on Monday, June 8th. BTIG Research assumed coverage on shares of British American Tobacco in a research report on Tuesday, July 21st. They issued a “buy” rating on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Stock Performance

NYSE:BTI opened at $59.38 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.50 and a debt-to-equity ratio of 0.64. The business’s 50-day simple moving average is $60.73 and its 200-day simple moving average is $60.33. British American Tobacco has a fifty-two week low of $49.88 and a fifty-two week high of $67.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BTI. First Bank & Trust grew its holdings in British American Tobacco by 7.2% during the second quarter. First Bank & Trust now owns 78,564 shares of the company’s stock worth $4,852,000 after purchasing an additional 5,292 shares during the period. Wealth Science Advisors LLC boosted its position in British American Tobacco by 8.2% during the second quarter. Wealth Science Advisors LLC now owns 41,968 shares of the company’s stock worth $2,592,000 after purchasing an additional 3,186 shares during the period. HF Advisory Group LLC boosted its position in British American Tobacco by 8.0% during the second quarter. HF Advisory Group LLC now owns 55,111 shares of the company’s stock worth $3,404,000 after purchasing an additional 4,087 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of British American Tobacco by 25.1% in the second quarter. Valeo Financial Advisors LLC now owns 10,242 shares of the company’s stock valued at $633,000 after purchasing an additional 2,052 shares during the last quarter. Finally, Trust Point Inc. bought a new position in shares of British American Tobacco in the second quarter valued at about $233,000. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Company Profile

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.