British American Tobacco (BTI) Downgraded by Cowen

Cowen downgraded shares of British American Tobacco (NYSE:BTI) from an outperform rating to a market perform rating in a research note released on Monday morning, Marketbeat.com reports.

Several other brokerages have also issued reports on BTI. Jefferies Financial Group set a $66.00 price target on British American Tobacco and gave the stock a buy rating in a research note on Monday, September 17th. Sanford C. Bernstein assumed coverage on British American Tobacco in a report on Tuesday, October 16th. They issued a market perform rating on the stock. Zacks Investment Research downgraded British American Tobacco from a hold rating to a sell rating in a report on Tuesday, December 18th. Royal Bank of Canada upgraded British American Tobacco from an underperform rating to a sector perform rating in a report on Thursday, November 29th. Finally, DZ Bank reiterated a sell rating on shares of British American Tobacco in a report on Thursday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. British American Tobacco currently has an average rating of Hold and a consensus price target of $73.00.

Shares of BTI stock opened at $31.79 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.41. British American Tobacco has a 12-month low of $30.67 and a 12-month high of $71.44. The stock has a market cap of $70.30 billion, a price-to-earnings ratio of 8.64 and a beta of 0.89.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in British American Tobacco by 460,771.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,318,454 shares of the company’s stock valued at $248,001,000 after purchasing an additional 5,317,300 shares during the period. Franklin Resources Inc. grew its holdings in shares of British American Tobacco by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,811,219 shares of the company’s stock worth $224,348,000 after acquiring an additional 45,384 shares during the period. Cambiar Investors LLC grew its holdings in shares of British American Tobacco by 1.7% during the 3rd quarter. Cambiar Investors LLC now owns 3,536,865 shares of the company’s stock worth $164,924,000 after acquiring an additional 58,775 shares during the period. Wells Fargo & Company MN grew its holdings in shares of British American Tobacco by 5.8% during the 3rd quarter. Wells Fargo & Company MN now owns 2,828,579 shares of the company’s stock worth $131,898,000 after acquiring an additional 156,133 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of British American Tobacco by 497.3% during the 2nd quarter. Jane Street Group LLC now owns 1,895,166 shares of the company’s stock worth $95,611,000 after acquiring an additional 1,577,899 shares during the period. Hedge funds and other institutional investors own 7.36% of the company’s stock.

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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Analyst Recommendations for British American Tobacco (NYSE:BTI)

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