British American Tobacco (NYSE:BTI) Cut to “Hold” at Wall Street Zen

British American Tobacco (NYSE:BTI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

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

British American Tobacco Stock Performance

Shares of British American Tobacco stock opened at $58.31 on Friday. British American Tobacco has a 1-year low of $37.96 and a 1-year high of $63.22. The company’s fifty day simple moving average is $59.95 and its 200-day simple moving average is $56.65. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66.

Institutional Investors Weigh In On British American Tobacco

A number of hedge funds have recently made changes to their positions in the stock. AlphaCore Capital LLC grew its holdings in 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. raised its position in British American Tobacco by 3.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,996 shares of the company’s stock valued at $283,000 after acquiring an additional 181 shares in the last quarter. NewEdge Wealth LLC lifted its stake in shares of British American Tobacco by 0.3% in the 4th quarter. NewEdge Wealth LLC now owns 58,696 shares of the company’s stock valued at $3,323,000 after purchasing an additional 187 shares during the period. City State Bank raised its position 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 position in British American Tobacco by 48.6% during the third quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock worth $34,000 after purchasing an additional 207 shares in the last quarter. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

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.