British American Tobacco (NYSE:BTI) Trading Up 6.5% – Should You Buy?

British American Tobacco p.l.c. (NYSE:BTI)’s stock price rose 6.5% during trading on Thursday . The company traded as high as $62.45 and last traded at $62.5290. Approximately 4,977,001 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 4,546,632 shares. The stock had previously closed at $58.73.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BTI. Weiss Ratings upgraded shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Wall Street Zen cut shares of British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Citigroup restated a “buy” rating on shares of British American Tobacco in a report on Thursday, May 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a research report on Monday, June 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

British American Tobacco Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. The firm has a 50-day simple moving average of $61.69 and a two-hundred day simple moving average of $59.76.

Hedge Funds Weigh In On British American Tobacco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTI. Wealth High Governance Capital Ltda acquired a new stake in shares of British American Tobacco in the fourth quarter valued at $6,911,000. Assetmark Inc. grew its stake in British American Tobacco by 4.3% during the 4th quarter. Assetmark Inc. now owns 557,887 shares of the company’s stock worth $31,588,000 after purchasing an additional 23,141 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in British American Tobacco by 284.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 26,274 shares of the company’s stock worth $1,488,000 after purchasing an additional 19,446 shares during the period. M&T Bank Corp raised its position in British American Tobacco by 74.6% in the 4th quarter. M&T Bank Corp now owns 102,703 shares of the company’s stock valued at $5,815,000 after purchasing an additional 43,886 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of British American Tobacco by 771.1% in the 4th quarter. SG Americas Securities LLC now owns 739,687 shares of the company’s stock valued at $41,881,000 after buying an additional 654,769 shares during the period. Hedge funds and other institutional investors own 16.16% of the company’s stock.

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.