British American Tobacco (NYSE:BTI) Research Coverage Started at JPMorgan Chase & Co.

by · The Cerbat Gem

JPMorgan Chase & Co. began coverage on shares of British American Tobacco (NYSE:BTI – Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. The firm issued an overweight rating on the stock.

A number of other research firms have also issued reports on BTI. Morgan Stanley restated an “overweight” rating and set a $68.10 price objective on shares of British American Tobacco in a research report on Monday, September 7th. Jefferies Financial Group restated a “buy” rating on shares of British American Tobacco in a research note on Wednesday, September 30th. SBG Securities raised British American Tobacco to a “buy” rating in a research report on Friday, August 7th. UBS Group reiterated a “buy” rating on shares of British American Tobacco in a research note on Wednesday, September 2nd. Finally, Wall Street Zen downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, British American Tobacco presently has an average rating of “Moderate Buy” and an average target price of $68.10.

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British American Tobacco Stock Down 0.1%

NYSE:BTI opened at $61.01 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.84 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average of $57.41 and a 200-day moving average of $59.29. British American Tobacco has a 52 week low of $52.06 and a 52 week high of $67.30.

Institutional Investors Weigh In On British American Tobacco

Several large investors have recently made changes to their positions in BTI. Smith Moore & CO. boosted its stake in British American Tobacco by 0.8% during the third quarter. Smith Moore & CO. now owns 21,299 shares of the company’s stock valued at $1,159,000 after buying an additional 171 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in British American Tobacco by 5.8% during the third quarter. Benjamin Edwards Inc. now owns 128,229 shares of the company’s stock worth $6,976,000 after acquiring an additional 7,026 shares during the period. First Trust Advisors LP raised its position in British American Tobacco by 8.2% in the third quarter. First Trust Advisors LP now owns 809,398 shares of the company’s stock worth $44,031,000 after acquiring an additional 61,550 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in British American Tobacco in the third quarter worth about $1,156,000. Finally, Private Advisor Group LLC lifted its holdings in British American Tobacco by 97.2% in the 3rd quarter. Private Advisor Group LLC now owns 27,551 shares of the company’s stock valued at $1,499,000 after acquiring an additional 13,578 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company’s stock.

British American Tobacco Company Profile

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British American Tobacco p.l.c. is a multinational tobacco and nicotine company headquartered in London. Its business includes the manufacture and sale of cigarettes, other tobacco products and newer nicotine products. Its portfolio includes cigarette brands such as Dunhill, Lucky Strike and Pall Mall, as well as vaping, heated-tobacco and oral nicotine products sold under brands including Vuse, glo and Velo. The company serves markets around the world, with operations spanning the Americas, Europe, Africa, the Middle East and Asia-Pacific.

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