British American Tobacco p.l.c. (NYSE:BTI) Given Average Rating of “Moderate Buy” by Brokerages

British American Tobacco p.l.c. (NYSE:BTI) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $51.00.

BTI has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Weiss Ratings raised 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. BTIG Research initiated coverage on shares of British American Tobacco in a research report on Tuesday. They set a “buy” rating for the company. Finally, Wall Street Zen downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th.

British American Tobacco Trading Up 1.8%

NYSE:BTI opened at $60.89 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average price is $61.60 and its two-hundred day moving average price is $59.98. British American Tobacco has a 52-week low of $49.88 and a 52-week high of $67.30.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Capital International Investors increased its holdings in British American Tobacco by 0.5% in the fourth quarter. Capital International Investors now owns 64,389,481 shares of the company’s stock valued at $3,645,500,000 after purchasing an additional 332,062 shares during the last quarter. Capital Research Global Investors boosted its holdings in British American Tobacco by 1.2% during the fourth quarter. Capital Research Global Investors now owns 22,333,402 shares of the company’s stock worth $1,264,512,000 after buying an additional 264,511 shares during the last quarter. Orbis Allan Gray Ltd grew its position in shares of British American Tobacco by 20.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock worth $686,473,000 after buying an additional 2,482,737 shares during the period. Bank of America Corp DE increased its stake in shares of British American Tobacco by 34.4% in the 1st quarter. Bank of America Corp DE now owns 9,736,843 shares of the company’s stock valued at $569,313,000 after acquiring an additional 2,494,576 shares during the last quarter. Finally, Capital World Investors raised its position in shares of British American Tobacco by 0.5% in the 4th quarter. Capital World Investors now owns 9,518,567 shares of the company’s stock valued at $538,935,000 after acquiring an additional 47,858 shares during the period. Institutional investors and hedge funds 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.