JPMorgan Chase & Co. Downgrades British American Tobacco (NYSE:BTI) to Neutral

British American Tobacco (NYSE:BTI – Get Rating) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday, The Fly reports.

Separately, StockNews.com upgraded shares of British American Tobacco from a “hold” rating to a “buy” rating in a report on Monday, February 13th.

British American Tobacco Stock Performance

Shares of British American Tobacco stock opened at $36.79 on Monday. The company has a 50 day moving average of $38.20 and a 200-day moving average of $38.88. British American Tobacco has a 1-year low of $35.47 and a 1-year high of $45.28. The company has a quick ratio of 0.55, a current ratio of 0.86 and a debt-to-equity ratio of 0.51.

Hedge Funds Weigh In On British American Tobacco

Institutional investors have recently modified their holdings of the stock. Almanack Investment Partners LLC. purchased a new stake in British American Tobacco in the third quarter valued at approximately $25,000. Sanctuary Wealth Management L.L.C. acquired a new position in British American Tobacco in the fourth quarter valued at $27,000. Trustcore Financial Services LLC acquired a new stake in shares of British American Tobacco during the third quarter worth about $28,000. Guardian Wealth Advisors LLC acquired a new stake in shares of British American Tobacco during the third quarter worth about $30,000. Finally, Motco lifted its position in British American Tobacco by 1,025.4% in the fourth quarter. Motco now owns 754 shares of the company’s stock valued at $30,000 after purchasing an additional 687 shares during the period. Hedge funds and other institutional investors own 6.37% of the company’s stock.

About British American Tobacco

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British American Tobacco plc is a holding company, which engages in the manufacture and distribution of tobacco products. Its brands include Kent, Dunhill, Lucky Strike, and Pall Mall. It operates through the following geographical segments: United States, Asia-Pacific and Middle East (APME), Americas and Sub-Saharan Africa (AMSSA), and Europe and North Africa (ENA).