British American Tobacco (NYSE:BTI) Stock Picked Up by Analysts at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. started coverage on shares of British American Tobacco (NYSE:BTI) in a note issued to investors on Tuesday, Benzinga reports. The firm set an “overweight” rating on the stock.

A number of other research analysts also recently commented on the company. Morningstar raised British American Tobacco to a “buy” rating in a report on Thursday, September 10th. BTIG Research started coverage on shares of British American Tobacco in a research report on Tuesday, July 21st. They set a “buy” rating for the company. SBG Securities upgraded shares of British American Tobacco to a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada reaffirmed a “sell” rating on shares of British American Tobacco in a report on Friday, September 11th. Finally, UBS Group reiterated a “buy” rating on shares of British American Tobacco in a research note on Wednesday, September 2nd. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.10.

British American Tobacco Stock Down 1.4%

NYSE:BTI opened at $60.07 on Tuesday. The firm has a 50-day moving average of $57.10 and a two-hundred day moving average of $59.26. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.84 and a quick ratio of 0.50. British American Tobacco has a 1-year low of $52.06 and a 1-year high of $67.30.

Hedge Funds Weigh In On British American Tobacco

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in British American Tobacco by 34.4% during the first quarter. Bank of America Corp DE now owns 9,736,843 shares of the company’s stock valued at $569,313,000 after purchasing an additional 2,494,576 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of British American Tobacco by 18.1% during the first quarter. Royal Bank of Canada now owns 2,413,551 shares of the company’s stock valued at $141,120,000 after purchasing an additional 369,993 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of British American Tobacco by 3,899.7% during the first quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company’s stock valued at $137,658,000 after purchasing an additional 2,303,743 shares during the last quarter. Maple Rock Capital Partners Inc. raised its position in shares of British American Tobacco by 36.3% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 2,166,000 shares of the company’s stock worth $133,772,000 after purchasing an additional 576,900 shares during the period. Finally, Cullen Capital Management LLC raised its position in shares of British American Tobacco by 11.8% during the 3rd quarter. Cullen Capital Management LLC now owns 2,431,334 shares of the company’s stock worth $132,265,000 after purchasing an additional 255,698 shares during the period. 16.16% of the stock is currently owned by institutional investors.

About British American Tobacco

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.