British American Tobacco (NYSE:BTI) Downgraded by StockNews.com to Hold

StockNews.com cut shares of British American Tobacco (NYSE:BTI – Get Rating) from a buy rating to a hold rating in a research report released on Friday morning.

Other equities research analysts have also issued reports about the stock. Barclays boosted their price objective on shares of British American Tobacco from GBX 4,200 ($50.98) to GBX 4,400 ($53.40) in a report on Tuesday, June 7th. UBS Group boosted their target price on shares of British American Tobacco from GBX 3,600 ($43.69) to GBX 3,800 ($46.12) in a research report on Tuesday, May 31st. Finally, JPMorgan Chase & Co. upgraded shares of British American Tobacco from a neutral rating to an overweight rating in a research report on Thursday, March 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, British American Tobacco presently has an average rating of Buy and an average price target of $4,100.00.

Shares of BTI opened at $41.90 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.85 and a quick ratio of 0.50. British American Tobacco has a 1-year low of $33.62 and a 1-year high of $47.24. The company’s fifty day moving average price is $42.88 and its 200-day moving average price is $41.73.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vise Technologies Inc. acquired a new position in British American Tobacco during the first quarter valued at $230,000. Teachers Retirement System of The State of Kentucky raised its position in shares of British American Tobacco by 8.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 213,280 shares of the company’s stock worth $8,992,000 after acquiring an additional 16,000 shares during the period. Bank of America Corp DE raised its position in shares of British American Tobacco by 20.0% in the first quarter. Bank of America Corp DE now owns 7,132,011 shares of the company’s stock worth $300,686,000 after acquiring an additional 1,189,386 shares during the period. Rehmann Capital Advisory Group acquired a new position in shares of British American Tobacco in the first quarter worth about $254,000. Finally, Verition Fund Management LLC acquired a new position in shares of British American Tobacco in the first quarter worth about $237,000. Institutional investors own 13.18% of the company’s stock.

British American Tobacco Company Profile (Get Rating)

British American Tobacco p.l.c. provides tobacco and nicotine products to consumers worldwide. It offers vapour, tobacco heating, and modern oral nicotine products; combustible products; and traditional oral products, such as snus and moist snuff. The company offers its products under the Kent, Dunhill, Lucky Strike, Pall Mall, Rothmans, Camel, Newport, Natural American Spirit, being Vapour, THP, and Modern Oral brands.

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