British American Tobacco (NYSE:BTI) Reaches New 52-Week High – Still a Buy?

British American Tobacco p.l.c. (NYSE:BTI)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $59.43 and last traded at $59.4420, with a volume of 470894 shares. The stock had previously closed at $59.16.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of British American Tobacco in a research report on Wednesday. Morgan Stanley reaffirmed an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Citigroup reissued a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Finally, Kepler Capital Markets initiated coverage on British American Tobacco in a research report on Friday, December 12th. They issued a “buy” rating on the stock. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.00.

British American Tobacco Stock Performance

The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average of $56.78 and a two-hundred day moving average of $55.01.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in British American Tobacco by 12,870.7% during the 3rd quarter. Capital World Investors now owns 9,470,709 shares of the company’s stock worth $502,687,000 after acquiring an additional 9,397,693 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of British American Tobacco by 2,066.9% in the second quarter. Federated Hermes Inc. now owns 3,476,001 shares of the company’s stock worth $164,519,000 after purchasing an additional 3,315,589 shares during the last quarter. Orbis Allan Gray Ltd increased its holdings in British American Tobacco by 20.7% in the second quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock valued at $686,473,000 after purchasing an additional 2,482,737 shares during the period. Citigroup Inc. raised its position in British American Tobacco by 833.5% during the 2nd quarter. Citigroup Inc. now owns 2,121,918 shares of the company’s stock worth $100,430,000 after purchasing an additional 1,894,617 shares during the last quarter. Finally, Capital International Investors lifted its holdings in British American Tobacco by 3.0% during the 3rd quarter. Capital International Investors now owns 64,057,419 shares of the company’s stock worth $3,399,352,000 after buying an additional 1,891,042 shares during the period. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Company Profile

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.