British American Tobacco (NYSE:BTI) Cut to “Neutral” at Piper Jaffray Companies

Piper Jaffray Companies downgraded shares of British American Tobacco (NYSE:BTI) from an overweight rating to a neutral rating in a research report released on Thursday morning, Briefing.com Automated Import reports. Piper Jaffray Companies also issued estimates for British American Tobacco’s FY2019 earnings at $3.96 EPS and FY2020 earnings at $4.23 EPS.

BTI has been the topic of a number of other reports. Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a research note on Tuesday, July 9th. Citigroup cut shares of OIL SEARCH LTD/ADR from a neutral rating to a sell rating in a research note on Thursday, March 28th. Finally, Morgan Stanley began coverage on shares of in a research note on Monday, June 17th. They set an equal weight rating and a GBX 215 ($2.81) price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $53.00.

Shares of NYSE BTI opened at $36.29 on Thursday. British American Tobacco has a fifty-two week low of $30.67 and a fifty-two week high of $55.77. The company’s 50-day moving average is $36.41. The company has a current ratio of 0.77, a quick ratio of 0.41 and a debt-to-equity ratio of 0.66.

Several hedge funds and other institutional investors have recently modified their holdings of BTI. Prudential Financial Inc. raised its position in shares of British American Tobacco by 86.1% during the 4th quarter. Prudential Financial Inc. now owns 108,525 shares of the company’s stock valued at $3,458,000 after buying an additional 50,200 shares in the last quarter. Standard Life Aberdeen plc grew its holdings in British American Tobacco by 44.9% during the 4th quarter. Standard Life Aberdeen plc now owns 11,300 shares of the company’s stock valued at $355,000 after purchasing an additional 3,500 shares during the last quarter. Bessemer Group Inc. grew its holdings in British American Tobacco by 37.2% during the 4th quarter. Bessemer Group Inc. now owns 3,773 shares of the company’s stock valued at $120,000 after purchasing an additional 1,022 shares during the last quarter. Hsbc Holdings PLC grew its holdings in British American Tobacco by 39.8% during the 4th quarter. Hsbc Holdings PLC now owns 220,634 shares of the company’s stock valued at $7,030,000 after purchasing an additional 62,838 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in British American Tobacco by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,162,900 shares of the company’s stock valued at $37,050,000 after purchasing an additional 23,501 shares during the last quarter. Institutional investors and hedge funds own 6.10% of the company’s stock.

About British American Tobacco

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, tobacco-free nicotine pouches, and moist snuff; cigars; and e-cigarettes. The company offers its products under the Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Camel, Natural American Spirit, 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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