British American Tobacco (NYSE:BTI) Stock Price Passes Below 50-Day Moving Average - Here's Why

Key Points

• BTI shares fell below their 50-day moving average, trading as low as $56.00 versus the $60.10 average, before last changing hands at $56.75 on volume of about 4.6 million shares.
• Analyst sentiment remains generally positive, with seven Buy ratings and one Sell rating producing a consensus “Moderate Buy” and a $62.00 target price, although Wall Street Zen recently downgraded the stock to Hold.
• British American Tobacco reported quarterly EPS of $1.11, missing the $2.21 consensus estimate, while revenue reached $8.10 billion versus analysts’ $16.42 billion forecast. Institutional investors own 16.16% of the company.

British American Tobacco p.l.c. (NYSE:BTI - Get Free Report) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $60.10 and traded as low as $56.00. British American Tobacco shares last traded at $56.75, with a volume of 4,635,110 shares.

Analysts Set New Price Targets

BTI has been the topic of several recent research reports. Weiss Ratings raised shares of British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Citigroup restated a "buy" rating on shares of British American Tobacco in a research report on Thursday, May 14th. Morgan Stanley reiterated an "overweight" rating on shares of British American Tobacco in a report on Monday, June 8th. Wall Street Zen lowered British American Tobacco from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Finally, BTIG Research assumed coverage on British American Tobacco in a report on Tuesday, July 21st. They set a "buy" rating for the company. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

British American Tobacco Price Performance

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 stock's fifty day moving average is $60.10 and its 200 day moving average is $60.16.

British American Tobacco (NYSE:BTI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.21 by ($1.10). The business had revenue of $8.10 billion for the quarter, compared to analyst estimates of $16.42 billion. Equities research analysts expect that British American Tobacco p.l.c. will post 4.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Command Advisory Services Inc. grew its position 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 worth $25,000 after buying an additional 416 shares during the last quarter. Glen Eagle Advisors LLC bought a new position in shares of British American Tobacco during the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC lifted its stake in British American Tobacco by 141.2% in 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. SHP Wealth Management purchased a new stake in British American Tobacco in the fourth quarter worth $35,000. Finally, Cary Street Partners Financial LLC bought a new stake in British American Tobacco in the second quarter valued at $30,000. 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.

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