British American Tobacco (NYSE:BTI) Sees Large Volume Increase – Time to Buy?

British American Tobacco p.l.c. (NYSE:BTI) saw unusually-high trading volume on Tuesday . 8,590,421 shares changed hands during trading, an increase of 90% from the previous session’s volume of 4,531,318 shares.The stock last traded at $62.32 and had previously closed at $62.74.

Wall Street Analyst Weigh In

BTI has been the topic of a number of recent research reports. Wall Street Zen lowered shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Finally, Weiss Ratings upgraded British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. The company’s 50-day moving average price is $60.96 and its 200-day moving average price is $59.48.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors raised its position in shares of British American Tobacco by 12,870.7% during the 3rd quarter. Capital World Investors now owns 9,470,709 shares of the company’s stock worth $502,687,000 after acquiring an additional 9,397,693 shares in the last quarter. Bank of America Corp DE boosted its holdings in British American Tobacco by 34.4% in the first quarter. Bank of America Corp DE now owns 9,736,843 shares of the company’s stock valued at $569,313,000 after purchasing an additional 2,494,576 shares in the last quarter. Orbis Allan Gray Ltd increased its stake in British American Tobacco by 20.7% in the second quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock valued at $686,473,000 after purchasing an additional 2,482,737 shares during the last quarter. WCM Investment Management LLC raised its holdings in British American Tobacco by 3,899.7% during the first quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company’s stock worth $137,658,000 after purchasing an additional 2,303,743 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of British American Tobacco by 3.0% during the 3rd quarter. Capital International Investors now owns 64,057,419 shares of the company’s stock worth $3,399,352,000 after buying an additional 1,891,042 shares during the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

About British American Tobacco

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.