British American Tobacco (NYSE:BTI) Stock Price Up 6.5% – Here’s What Happened

Shares of British American Tobacco p.l.c. (NYSE:BTI) were up 6.5% on Thursday . The stock traded as high as $62.45 and last traded at $62.5290. 4,977,001 shares were traded during trading, an increase of 9% from the average session volume of 4,546,632 shares. The stock had previously closed at $58.73.

Analysts Set New Price Targets

A number of equities research analysts have commented on BTI shares. Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. 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. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

British American Tobacco Stock Up 7.3%

The firm’s 50 day simple moving average is $61.69 and its 200 day simple moving average is $59.76. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87.

Institutional Investors 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 purchased a new stake in shares of British American Tobacco in the fourth quarter valued at about $6,911,000. Assetmark Inc. grew its stake in shares of British American Tobacco by 4.3% in the 4th quarter. Assetmark Inc. now owns 557,887 shares of the company’s stock valued at $31,588,000 after buying an additional 23,141 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in shares of 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 buying an additional 19,446 shares during the last quarter. M&T Bank Corp raised its position in shares of British American Tobacco by 74.6% during the 4th quarter. M&T Bank Corp now owns 102,703 shares of the company’s stock valued at $5,815,000 after buying an additional 43,886 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in British American Tobacco by 771.1% in the fourth quarter. SG Americas Securities LLC now owns 739,687 shares of the company’s stock valued at $41,881,000 after acquiring an additional 654,769 shares during the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

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.