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

British American Tobacco (NYSE:BTI) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other equities analysts have also recently commented on the company. Morgan Stanley reissued an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Weiss Ratings upgraded shares of British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Finally, Kepler Capital Markets started coverage on shares of British American Tobacco in a report on Friday, December 12th. They set a “buy” rating on the stock. Eight research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, British American Tobacco currently has an average rating of “Moderate Buy” and an average target price of $51.00.

British American Tobacco Price Performance

Shares of BTI opened at $59.93 on Friday. The firm has a 50 day simple moving average of $59.37 and a two-hundred day simple moving average of $56.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. British American Tobacco has a one year low of $37.96 and a one year high of $63.22.

Institutional Investors Weigh In On British American Tobacco

Hedge funds have recently added to or reduced their stakes in the business. AlphaCore Capital LLC grew its stake in shares of British American Tobacco by 1.6% in the fourth quarter. AlphaCore Capital LLC now owns 10,849 shares of the company’s stock worth $614,000 after purchasing an additional 170 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of British American Tobacco by 3.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,996 shares of the company’s stock valued at $283,000 after buying an additional 181 shares during the period. NewEdge Wealth LLC raised its position in shares of British American Tobacco by 0.3% during the fourth quarter. NewEdge Wealth LLC now owns 58,696 shares of the company’s stock worth $3,323,000 after acquiring an additional 187 shares during the last quarter. City State Bank lifted its stake in shares of British American Tobacco by 10.5% in the third quarter. City State Bank now owns 2,105 shares of the company’s stock worth $112,000 after acquiring an additional 200 shares during the period. Finally, Salem Investment Counselors Inc. boosted its holdings in British American Tobacco by 48.6% in the third quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock valued at $34,000 after acquiring an additional 207 shares during the last quarter. 16.16% of the stock is currently 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.