British American Tobacco (BTI) Raised to Sector Perform at Royal Bank of Canada

British American Tobacco (NYSE:BTI) was upgraded by equities researchers at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a report issued on Thursday, Marketbeat Ratings reports.

Several other research analysts also recently commented on BTI. Zacks Investment Research raised shares of British American Tobacco from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. DZ Bank reaffirmed a “sell” rating on shares of British American Tobacco in a research note on Thursday, October 18th. Sanford C. Bernstein began coverage on shares of British American Tobacco in a research note on Tuesday, October 16th. They issued a “market perform” rating on the stock. Jefferies Financial Group downgraded shares of British American Tobacco to a “buy” rating in a research note on Friday, August 24th. Finally, UBS Group downgraded shares of British American Tobacco from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $73.00.

Shares of NYSE BTI traded down $0.61 during mid-day trading on Thursday, hitting $34.87. The stock had a trading volume of 3,652,354 shares, compared to its average volume of 4,599,997. The company has a quick ratio of 0.41, a current ratio of 0.81 and a debt-to-equity ratio of 0.69. British American Tobacco has a 1 year low of $34.12 and a 1 year high of $71.44. The company has a market cap of $74.31 billion, a price-to-earnings ratio of 9.48 and a beta of 0.96.

A number of institutional investors have recently modified their holdings of BTI. Girard Partners LTD. purchased a new position in British American Tobacco during the 3rd quarter valued at $126,000. Bessemer Group Inc. increased its position in British American Tobacco by 111.0% during the 3rd quarter. Bessemer Group Inc. now owns 2,751 shares of the company’s stock valued at $129,000 after purchasing an additional 1,447 shares during the period. Flagship Harbor Advisors LLC purchased a new position in British American Tobacco during the 2nd quarter valued at $130,000. NuWave Investment Management LLC purchased a new position in British American Tobacco during the 2nd quarter valued at $143,000. Finally, Parallel Advisors LLC increased its position in British American Tobacco by 84.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,134 shares of the company’s stock valued at $146,000 after purchasing an additional 1,435 shares during the period. 7.54% of the stock is currently owned by institutional investors and hedge funds.

British American Tobacco Company Profile

British American Tobacco p.l.c. provides cigarettes and other tobacco products worldwide. It manufactures vapour and tobacco heating products; oral tobacco and nicotine products, such as snus and moist snuff; cigars; and e-cigarettes. The company offers its products under the Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, Benson & Hedges, John Player Gold Leaf, State Express 555, and Shuang Xi brands.

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