British American Tobacco p.l.c. (NYSE:BTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “British American Tobacco is the holding company of a group of companies which manufacture, market and sell tobacco products. “

A number of other equities analysts have also recently commented on BTI. Piper Jaffray Companies started coverage on shares of British American Tobacco p.l.c. in a research report on Thursday, May 25th. They set an “overweight” rating and a $59.00 price objective for the company. Bank of America Corporation set a $79.00 price objective on shares of British American Tobacco p.l.c. and gave the stock a “buy” rating in a research report on Thursday, July 6th. SBG Securities raised shares of British American Tobacco p.l.c. from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. UBS AG reaffirmed a “buy” rating on shares of British American Tobacco p.l.c. in a research report on Tuesday, August 1st. Finally, J P Morgan Chase & Co reissued an “overweight” rating on shares of British American Tobacco p.l.c. in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $69.00.

British American Tobacco p.l.c. (NYSE:BTI) traded up 1.59% during mid-day trading on Friday, hitting $63.99. 3,662,212 shares of the company traded hands. British American Tobacco p.l.c. has a one year low of $52.71 and a one year high of $73.41. The company’s 50-day moving average is $63.17 and its 200-day moving average is $66.83. The stock has a market capitalization of $118.89 billion, a price-to-earnings ratio of 21.79 and a beta of 1.05.

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A number of hedge funds have recently bought and sold shares of BTI. Quadrant Capital Group LLC raised its stake in British American Tobacco p.l.c. by 57.0% in the second quarter. Quadrant Capital Group LLC now owns 887 shares of the company’s stock valued at $109,000 after purchasing an additional 322 shares in the last quarter. FTB Advisors Inc. raised its stake in British American Tobacco p.l.c. by 10.7% during the second quarter. FTB Advisors Inc. now owns 1,804 shares of the company’s stock worth $117,000 after acquiring an additional 174 shares in the last quarter. Kernodle & Katon Asset Management Group LLC raised its stake in British American Tobacco p.l.c. by 4.7% during the third quarter. Kernodle & Katon Asset Management Group LLC now owns 937 shares of the company’s stock worth $120,000 after acquiring an additional 42 shares in the last quarter. Assetmark Inc. raised its stake in British American Tobacco p.l.c. by 48.4% during the third quarter. Assetmark Inc. now owns 994 shares of the company’s stock worth $127,000 after acquiring an additional 324 shares in the last quarter. Finally, Smithfield Trust Co. raised its stake in British American Tobacco p.l.c. by 1.0% during the second quarter. Smithfield Trust Co. now owns 1,043 shares of the company’s stock worth $135,000 after acquiring an additional 10 shares in the last quarter. 4.65% of the stock is owned by institutional investors and hedge funds.

British American Tobacco p.l.c. Company Profile

British American Tobacco p.l.c. is a tobacco and next generation products company. The Company’s tobacco product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).

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Analyst Recommendations for British American Tobacco p.l.c. (NYSE:BTI)

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