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

Key Points

• Wall Street Zen downgraded British American Tobacco from “Buy” to “Hold,” while the broader analyst consensus remains “Moderate Buy,” with seven Buy ratings and one Sell rating.
• BTI opened at $59.38, compared with an average analyst price target of $51.00; its 52-week range is $49.88 to $67.30.
• Institutional investors own 16.16% of the company, with several hedge funds recently initiating or increasing positions in British American Tobacco.

British American Tobacco (NYSE:BTI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

BTI has been the subject of a number of other reports. Weiss Ratings upgraded 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 reiterated an "overweight" rating on shares of British American Tobacco in a research report on Monday, June 8th. BTIG Research began coverage on shares of British American Tobacco in a report on Tuesday, July 21st. They set a "buy" rating for the company. Finally, Citigroup reaffirmed a "buy" rating on shares of British American Tobacco in a research note on Thursday, May 14th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.00.

British American Tobacco Stock Performance

BTI stock opened at $59.38 on Friday. British American Tobacco has a 1 year low of $49.88 and a 1 year high of $67.30. The company has a fifty day simple moving average of $60.73 and a 200 day simple moving average of $60.31. The company has a quick ratio of 0.50, a current ratio of 0.84 and a debt-to-equity ratio of 0.64.

Hedge Funds Weigh In On British American Tobacco

Several hedge funds have recently added to or reduced their stakes in the company. First Command Advisory Services Inc. boosted its stake in shares of British American Tobacco by 1,386.7% in the 4th quarter. First Command Advisory Services Inc. now owns 446 shares of the company's stock valued at $25,000 after purchasing an additional 416 shares during the last quarter. Glen Eagle Advisors LLC bought a new stake in shares of British American Tobacco in the 4th quarter valued at $26,000. Cary Street Partners Financial LLC acquired a new stake in shares of British American Tobacco during the second quarter worth about $30,000. SHP Wealth Management acquired a new stake in British American Tobacco during the 4th quarter worth approximately $35,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of British American Tobacco by 141.2% during the fourth quarter. Cornerstone Planning Group LLC now owns 591 shares of the company's stock worth $36,000 after acquiring an additional 346 shares during the period. 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.

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